Canadian Tire (TSE:CTC.A) Sets New 52-Week High – Here’s Why

Shares of Canadian Tire Co. Limited (TSE:CTC.A) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$196.46 and last traded at C$195.53, with a volume of 45543 shares traded. The stock had previously closed at C$184.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CTC.A shares. Scotiabank lifted their target price on Canadian Tire from C$150.00 to C$155.00 and gave the stock an “underperform” rating in a report on Friday, November 7th. BMO Capital Markets boosted their target price on shares of Canadian Tire from C$175.00 to C$180.00 in a research report on Monday, November 10th. Desjardins raised their target price on Canadian Tire from C$185.00 to C$190.00 in a report on Friday, November 7th. Canadian Imperial Bank of Commerce boosted their price target on Canadian Tire from C$181.00 to C$189.00 in a report on Friday, November 7th. Finally, National Bank Financial raised their price objective on shares of Canadian Tire from C$197.00 to C$201.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$178.25.

Canadian Tire Stock Up 0.9%

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 business has a 50-day simple moving average of C$174.62 and a 200-day simple moving average of C$171.05. The company has a market cap of C$9.95 billion, a PE ratio of 14.14, a P/E/G ratio of 0.35 and a beta of 0.90.

About Canadian Tire

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or ‘CTC’, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.