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

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. 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 research note on Friday, February 20th. TD Securities increased their price target 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. BMO Capital Markets lifted their price objective on shares of Canadian Tire from C$180.00 to C$194.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Scotiabank upgraded shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and upped their price objective for the stock from C$160.00 to C$180.00 in a report on Friday, February 20th. Finally, National Bank Financial increased their target price on shares of Canadian Tire from C$201.00 to C$211.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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 price-to-earnings-growth ratio of 0.35 and a beta of 1.09. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The company has a fifty day moving average of C$186.94 and a two-hundred day moving average of C$176.56.

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