RBC Capital Sticks to Its Buy Rating for Canadian Tire (CDNAF)

In a report issued on May 12, Irene Nattel from RBC Capital maintained a Buy rating on Canadian Tire (CDNAFResearch Report), with a price target of C$260.00. The company’s shares closed last Friday at $136.29.

According to, Nattel is a 5-star analyst with an average return of 9.8% and a 58.6% success rate. Nattel covers the Consumer Goods sector, focusing on stocks such as Loblaw Companies, Casey’s General, and Dollarama.

Currently, the analyst consensus on Canadian Tire is a Strong Buy with an average price target of $177.16, a 30.8% upside from current levels. In a report released yesterday, Canaccord Genuity also upgraded the stock to Buy with a C$208.00 price target.

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Canadian Tire’s market cap is currently $8.5B and has a P/E ratio of 8.77.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CDNAF in relation to earlier this year.

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Canadian Tire sells home goods, sporting equipment, apparel, footwear, automotive parts and accessories, and vehicle fuel through a 1,700-store network of company, dealer, and franchisee-operated locations across Canada. Aside from the namesake banner, stores operate primarily under the Mark’s, SportChek, Atmosphere, and PartSource monikers. The company acquired Helly Hansen, a Norwegian sportswear and workwear brand, in 2018. The firm also operates and holds majority ownership of a financing arm (Canadian Tire Financial Services; 20% owned by Scotiabank) and a REIT (CT REIT; Canadian Tire owns about 70% of the unit).

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