CIBC Lowers Canadian Tire (TSE:CTC.A) Price Target to C$156.00

Canadian Tire (TSE:CTC.A) had its price objective cut by equities research analysts at CIBC from C$165.00 to C$156.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 8.34% from the stock’s previous close.

CTC.A has been the subject of several other reports. Royal Bank of Canada increased their target price on shares of Canadian Tire from C$188.00 to C$192.00 in a report on Friday, November 8th. TD Securities reduced their target price on shares of Canadian Tire from C$182.00 to C$176.00 and set a “buy” rating for the company in a report on Friday. Canaccord Genuity Group increased their target price on shares of Canadian Tire from C$157.00 to C$160.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Finally, BMO Capital Markets reduced their target price on shares of Canadian Tire from C$170.00 to C$155.00 in a report on Friday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$148.60.

Canadian Tire Price Performance

TSE CTC.A opened at C$143.99 on Friday. Canadian Tire has a 52 week low of C$126.25 and a 52 week high of C$169.27. The firm has a market capitalization of C$7.52 billion, a P/E ratio of 21.02, a PEG ratio of 0.35 and a beta of 1.33. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The company has a 50-day moving average price of C$157.29 and a 200-day moving average price of C$155.04.

Insider Activity

In other news, Director Steve Frazier purchased 350 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of C$152.56 per share, for a total transaction of C$53,397.68. Insiders own 1.90% of the company’s stock.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.