Canadian Tire (TSE:CTC.A) Reaches New 52-Week High Following Insider Buying Activity

Canadian Tire Co. Limited (TSE:CTC.A) shares hit a new 52-week high during trading on Monday after an insider bought additional shares in the company. The company traded as high as C$178.67 and last traded at C$178.32, with a volume of 8818 shares traded. The stock had previously closed at C$177.30.

Specifically, Director Steve Frazier bought 450 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was acquired at an average cost of C$178.77 per share, with a total value of C$80,447.09.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CTC.A shares. National Bankshares lifted their target price on Canadian Tire from C$70.00 to C$174.00 and gave the company a “sector perform” rating in a research report on Friday, March 7th. Desjardins lifted their target price on Canadian Tire from C$170.00 to C$175.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Canaccord Genuity Group cut their price target on Canadian Tire from C$158.00 to C$153.00 in a report on Thursday, February 20th. TD Securities lifted their price target on Canadian Tire from C$170.00 to C$181.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, CIBC cut their price target on Canadian Tire from C$165.00 to C$156.00 in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$171.25.

Canadian Tire Trading Down 0.1%

The company has a 50 day moving average of C$158.13 and a two-hundred day moving average of C$154.73. 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 stock has a market capitalization of C$9.25 billion, a PE ratio of 25.88, a P/E/G ratio of 0.35 and a beta of 1.33.

Canadian Tire Company Profile

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.