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

Canadian Tire Co. Limited (TSE:CTC.A) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$169.34 and last traded at C$168.58, with a volume of 36561 shares trading hands. The stock had previously closed at C$166.03.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTC.A. Jefferies Financial Group increased their price target on Canadian Tire from C$140.00 to C$164.00 in a research note on Friday, May 9th. CIBC cut their target price on shares of Canadian Tire from C$165.00 to C$156.00 in a research report on Friday, February 14th. TD Securities boosted their price target on shares of Canadian Tire from C$170.00 to C$181.00 and gave the company a “buy” rating in a research report on Friday, May 9th. BMO Capital Markets lifted their price objective on shares of Canadian Tire from C$170.00 to C$175.00 in a research note on Friday, May 9th. Finally, Desjardins upped their price target on Canadian Tire from C$170.00 to C$175.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Tire has an average rating of “Moderate Buy” and an average price target of C$171.25.

Canadian Tire Price Performance

The firm has a 50-day moving average price of C$150.34 and a 200-day moving average price of C$152.36. 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 stock has a market cap of C$8.80 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.