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

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

Analysts Set New Price Targets

Several research firms recently weighed in on CTC.A. Desjardins upped their price objective on shares of Canadian Tire from C$200.00 to C$217.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Jefferies Financial Group upped their price objective on Canadian Tire from C$179.00 to C$199.00 in a report on Friday, August 14th. National Bank Financial cut 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 raised 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. Finally, Stifel Nicolaus boosted their price target on shares of Canadian Tire from C$115.00 to C$220.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Three research 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 currently has an average rating of “Hold” and a consensus target price of C$205.50.

Canadian Tire Stock Performance

The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The stock has a market cap of C$11.39 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66. The company’s 50-day simple moving average is C$195.72 and its 200-day simple moving average is C$190.44.

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.