Canadian Tire (TSE:CTC.A) Sets New 52-Week High – What’s Next?

Canadian Tire Co. Limited (TSE:CTC.A)’s share price hit a new 52-week high on Thursday . The company traded as high as C$197.91 and last traded at C$197.33, with a volume of 65172 shares trading hands. The stock had previously closed at C$193.89.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CTC.A shares. BMO Capital Markets raised their target price 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 lifted their target price on shares of Canadian Tire from C$194.00 to C$205.00 and gave the company a “hold” rating in a report on Friday, February 20th. Desjardins lifted their target price on shares of Canadian Tire from C$190.00 to C$203.00 and gave the company a “buy” rating in a report on Friday, February 20th. National Bank Financial boosted 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. Finally, Scotiabank upgraded shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and boosted their price target for the stock from C$160.00 to C$180.00 in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$192.29.

Canadian Tire Trading Up 1.5%

The business’s 50-day moving average is C$184.80 and its two-hundred day moving average is C$175.57. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The stock has a market capitalization of C$10.37 billion, a PE ratio of 20.35, a PEG ratio of 0.35 and a beta of 1.09.

Canadian Tire (TSE:CTC.A) last announced its earnings results on Thursday, February 19th. The company reported C$4.47 EPS for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The business had revenue of C$4.55 billion during the quarter. On average, analysts anticipate 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) 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.