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BMO Capital Markets increases its target price for Canadian tires (TSE: CTC.A) to CAD 223.00

Canadian Tire (TSE: CTC.A) Research analysts at BMO Capital Markets raised the target price from C $ 178.00 to C $ 223.00 in a notice issued to investors on Friday, reports BayStreet.CA. BMO Capital Markets’ price target would indicate a potential 5.86% gain over the current price of the stock.

A number of other equity analysts recently weighed on the company as well. CIBC raised its target price for Canadian Tire from C $ 202.00 to C $ 234.00 and rated the share as “Outperform” in a report on Friday. Canaccord Genuity raised its target price on shares of Canadian Tire from C $ 160.00 to C $ 190.00 and gave the company a “na” rating in a research note on Friday, February 19. TD Securities raised its target price on Canadian Tire from C $ 210.00 to C $ 240.00 and gave the company a “Buy” rating in a research report on Friday. National Bank Financial raised its target price for Canadian Tire from C $ 199.00 to C $ 201.00 and rated the stock as “Outperform” in a report on Monday. Finally, in a report on Friday, Scotiabank raised its price target for Canadian Tire from C $ 205.00 to C $ 242.00. One analyst has given the stock a hold rating and five have assigned the company a buy rating. The company has an average rating of “Buy” and a consensus price target of $ 212.56.

TSE: CTC.A’s shares were trading at $ 2.19 at noon on Friday, trading at $ 210.65. The company’s stock had a trading volume of 78,918 shares versus an average volume of 225,038 shares. Canadian Tire has a fifty-two week low of $ 93.50 and a fifty-two week high of $ 213.85. The company has a leverage ratio of 174.26, a fast rate of 1.51, and a current rate of 2.03. The company has a 50-day moving average price of $ 190.64 and a two-hundred-day moving average price of $ 173.55. The company has a market capitalization of $ 12.81 billion and a value for money of $ 17.11.

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In other Canadian Tire news, Director Dean Charles Mccann sold 1,750 shares in the company in a transaction on Friday, February 19. The stock was sold at an average price of $ 176.00 for a total of $ 308,000. Upon completion of the transaction, the director now holds 2,750 shares in the company valued at approximately $ 484,000.

About Canadian tires

Canadian Tire Corporation, Limited provides a variety of retail goods and services in Canada. The company operates in three segments: retail, CT REIT, and financial services. The retail segment sells general merchandise, apparel, shoes, athletic equipment, gasoline, sporting goods and active wear, and workwear under Canadian tires, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Marks, PartSource, Gas + and Helly Hansen Banner.

See also: quantitative easing

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