Canadian Tire (TSE:CTC.A) Sets New 12-Month High – Here’s What Happened

Shares of Canadian Tire Co. Limited (TSE:CTC.A) hit a new 52-week high during trading on Thursday . The stock traded as high as C$196.99 and last traded at C$196.52, with a volume of 203750 shares. The stock had previously closed at C$194.63.

Analyst Upgrades and Downgrades

CTC.A has been the subject of a number of analyst reports. Scotiabank raised shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from C$160.00 to C$180.00 in a report on Friday, February 20th. National Bank Financial raised their price target on shares of Canadian Tire from C$201.00 to C$211.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. TD Securities upped their price objective on Canadian Tire from C$194.00 to C$205.00 and gave the company a “hold” rating in a research note on Friday, February 20th. Desjardins boosted their price target on shares of Canadian Tire from C$190.00 to C$203.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on Canadian Tire from C$181.00 to C$189.00 in a research report on Friday, November 7th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Tire presently has an average rating of “Hold” and an average price target of C$192.29.

Canadian Tire Price Performance

The stock has a market capitalization of C$10.41 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 0.35 and a beta of 0.90. 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 business’s 50-day moving average price is C$178.58 and its 200 day moving average price is C$172.44.

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.