Canadian Tire (TSE:CTC.A) Hits New 1-Year High – What’s Next?

Canadian Tire Co. Limited (TSE:CTC.A) shares hit a new 52-week high during trading on Thursday. The stock traded as high as C$220.00 and last traded at C$220.00, with a volume of 20,770 shares. The stock had previously closed at C$204.97.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on Canadian Tire from C$179.00 to C$199.00 in a report on Friday, August 14th. Royal Bank Of Canada upped their price target on Canadian Tire from C$218.00 to C$230.00 and gave the company an “outperform” rating in a research report on Sunday, August 16th. Desjardins raised their price objective on Canadian Tire from C$200.00 to C$217.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Scotia lifted their price objective on shares of Canadian Tire from C$180.00 to C$200.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Finally, National Bank Financial lowered their target price on shares of Canadian Tire from C$210.00 to C$209.00 and set a “sector perform” rating for the company in a research note on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Canadian Tire has a consensus rating of “Hold” and an average price target of C$205.50.

Canadian Tire Price Performance

The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. The company has a fifty day moving average price of C$195.72 and a 200 day moving average price of C$190.44. The company has a market capitalization of C$11.39 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited (TSX: CTC.A, TSX: CTC, “CTC”) has been a proudly Canadian business since 1922. Guided by its brand purpose, “We are here to make life in Canada better,” CTC has built an expansive national retail presence, exceptional customer brand trust and one of Canada’s strongest workforces – employing, along with its local Dealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life’s pursuits: Canadian Tire, offering products spanning Living, Playing, Fixing, Automotive, and Seasonal & Gardening, bolstered by notable banners Party City and PartSource; Mark’s, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players.