Canadian Tire (TSE:CTC.A) Reaches New 12-Month High – What’s Next?

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CTC.A shares. TD Securities upped their target price on 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. CIBC lowered their price objective on Canadian Tire from C$165.00 to C$156.00 in a research report on Friday, February 14th. Jefferies Financial Group lifted their target price on Canadian Tire from C$140.00 to C$164.00 in a report on Friday, May 9th. BMO Capital Markets upped their price target on shares of Canadian Tire from C$170.00 to C$175.00 in a research note on Friday, May 9th. Finally, Canaccord Genuity Group cut their price objective on shares of Canadian Tire from C$158.00 to C$153.00 in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$171.25.

Canadian Tire Stock Performance

The stock has a market cap of C$8.80 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 0.35 and a beta of 1.33. The company’s fifty day simple moving average is C$150.34 and its two-hundred day simple moving average is C$152.36. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15.

About Canadian Tire

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.