Canadian Tire (TSE:CTC.A) Sets New 12-Month High – Time to Buy?

Shares of Canadian Tire Co. Limited (TSE:CTC.A) hit a new 52-week high during trading on Thursday. The company traded as high as C$208.55 and last traded at C$208.47, with a volume of 27,854 shares traded. The stock had previously closed at C$203.64.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTC.A shares. Desjardins raised their target price on shares of Canadian Tire from C$200.00 to C$217.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. TD boosted their price target on Canadian Tire from C$200.00 to C$210.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Scotia increased their price objective on Canadian Tire from C$180.00 to C$200.00 and gave the stock a “sector perform” rating in a research note on Friday, August 14th. Jefferies Financial Group increased their price objective on Canadian Tire from C$179.00 to C$199.00 in a research note on Friday, August 14th. Finally, Stifel Nicolaus raised their price objective on Canadian Tire from C$115.00 to C$220.00 and gave the stock a “buy” rating in a report 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$204.00.

Canadian Tire Stock Performance

The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. The firm has a market cap of C$10.67 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.35 and a beta of 0.75. The firm’s fifty day moving average price is C$192.92 and its 200 day moving average price is C$191.44.

About Canadian Tire

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.