Canadian Tire (TSE:CTC.A) Sets New 1-Year High – Still a Buy?

Canadian Tire Co. Limited (TSE:CTC.A) reached a new 52-week high on Monday . The stock traded as high as C$184.59 and last traded at C$184.43, with a volume of 27527 shares changing hands. The stock had previously closed at C$183.49.

Analyst Ratings Changes

A number of brokerages have issued reports on CTC.A. Desjardins boosted their price target on shares of Canadian Tire from C$170.00 to C$175.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. National Bankshares increased their target price on shares of Canadian Tire from C$70.00 to C$174.00 and gave the stock a “sector perform” rating in a report on Friday, March 7th. Jefferies Financial Group raised their price target on shares of Canadian Tire from C$140.00 to C$164.00 in a research report on Friday, May 9th. BMO Capital Markets upped their price objective on Canadian Tire from C$170.00 to C$175.00 in a research report on Friday, May 9th. Finally, TD Securities increased their price objective on Canadian Tire from C$170.00 to C$181.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$171.25.

Canadian Tire Trading Up 0.4%

The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The firm has a market cap of C$9.62 billion, a PE ratio of 26.90, a P/E/G ratio of 0.35 and a beta of 1.33. The business has a fifty day moving average price of C$163.88 and a 200 day moving average price of C$156.17.

Insiders Place Their Bets

In other news, Director Steve Frazier acquired 450 shares of Canadian Tire stock in a transaction on Monday, June 9th. The stock was bought at an average price of C$178.77 per share, for a total transaction of C$80,447.09. 1.90% of the stock is owned by corporate insiders.

About Canadian Tire

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.