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

Canadian Tire Co. Limited (TSE:CTC.A)’s share price hit a new 52-week high on Wednesday . The company traded as high as C$199.69 and last traded at C$198.97, with a volume of 21537 shares. The stock had previously closed at C$198.72.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Scotiabank upgraded shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from C$160.00 to C$180.00 in a research note on Friday, February 20th. National Bank Financial boosted their price objective 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. BMO Capital Markets boosted their price objective on shares of Canadian Tire from C$180.00 to C$194.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. TD Securities boosted their price objective on shares of Canadian Tire from C$194.00 to C$205.00 and gave the stock a “hold” rating in a research note on Friday, February 20th. Finally, Desjardins boosted their price objective on shares of Canadian Tire from C$190.00 to C$203.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$192.29.

Canadian Tire Trading Up 0.0%

The stock has a market capitalization of C$10.48 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 0.35 and a beta of 1.09. The company’s 50 day moving average is C$186.94 and its 200 day moving average is C$176.56. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79.

Canadian Tire (TSE:CTC.A) last released its earnings results on Thursday, February 19th. The company reported C$4.47 EPS for the quarter. The firm had revenue of C$4.55 billion during the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. On average, research analysts forecast that Canadian Tire Co. Limited will post 13.638961 EPS for the current fiscal year.

Canadian Tire Company Profile

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.