Canadian Tire (TSE:CTC.A) Reaches New 1-Year High – Here’s Why

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price reached 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. The stock had previously closed at C$203.64.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CTC.A shares. National Bank Financial reduced their price objective on Canadian Tire from C$210.00 to C$209.00 and set a “sector perform” rating for the company in a report on Friday, August 14th. TD boosted their target price on Canadian Tire from C$200.00 to C$210.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. 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. Jefferies Financial Group upped their price target on Canadian Tire from C$179.00 to C$199.00 in a research report on Friday, August 14th. Finally, Desjardins increased their price target 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. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$204.00.

Canadian Tire Price Performance

The stock has a market cap of C$10.86 billion, a PE ratio of 16.48, a P/E/G ratio of 0.35 and a beta of 0.75. 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 firm’s 50 day moving average price is C$192.66 and its two-hundred day moving average price is C$191.21.

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.