Canadian Tire (TSE:CTC.A) Reaches New 52-Week High – Time to Buy?

Canadian Tire Co. Limited (TSE:CTC.A) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$202.79 and last traded at C$202.33, with a volume of 67884 shares traded. The stock had previously closed at C$198.86.

Analyst Ratings Changes

CTC.A has been the topic of several analyst reports. TD increased their price target on shares of Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Desjardins cut their target price on Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Stifel Nicolaus set a C$215.00 target price on Canadian Tire and gave the company a “buy” rating in a report on Wednesday, June 10th. National Bank Financial lowered their price target on Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating for the company in a report on Friday, May 15th. Finally, Royal Bank Of Canada reduced their price objective on Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$200.56.

Canadian Tire Trading Up 2.0%

The firm has a market capitalization of C$10.67 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 0.35 and a beta of 1.04. The firm’s 50-day moving average is C$186.85 and its 200 day moving average is C$185.30. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Canadian Tire (TSE:CTC.A) last announced its earnings results on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%.The firm had revenue of C$3.57 billion for the quarter. On average, equities analysts predict that Canadian Tire Co. Limited will post 13.638961 earnings per share for the current fiscal year.

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.