Canadian Tire (TSE:CTC.A) Reaches New 52-Week High – Here’s Why

Shares of Canadian Tire Co. Limited (TSE:CTC.A) reached a new 52-week high on Monday . The company traded as high as C$202.79 and last traded at C$202.33, with a volume of 67884 shares trading hands. The stock had previously closed at C$198.86.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CTC.A. Stifel Nicolaus set a C$215.00 price target on Canadian Tire and gave the company a “buy” rating in a report on Wednesday, June 10th. National Bank Financial decreased their target price on shares of Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating for the company in a report on Friday, May 15th. Desjardins reduced their price target on shares of Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating for the company in a research report on Friday, May 15th. BMO Capital Markets lowered their price objective on Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating on the stock in a research report on Friday, May 15th. Finally, Royal Bank Of Canada decreased their price target on Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$200.56.

Canadian Tire Stock Up 2.2%

The company’s 50 day moving average price is C$188.17 and its two-hundred day moving average price is C$185.69. 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 firm has a market cap of C$10.86 billion, a PE ratio of 18.73, a PEG ratio of 0.35 and a beta of 1.04.

Canadian Tire (TSE:CTC.A) last posted its quarterly earnings data on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%.The firm had revenue of C$3.57 billion during the quarter. On average, equities research analysts expect that Canadian Tire Co. Limited will post 13.638961 EPS for the current fiscal year.

About Canadian Tire

Canadian Tire Corporation, Limited (TSX: CTC.A, TSX: CTC, “CTC”) has been a proudly Canadian business since 1922. Guided by its brand purpose, “We are here to make life in Canada better,” CTC has built an expansive national retail presence, exceptional customer brand trust and one of Canada’s strongest workforces – employing, along with its local Dealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life’s pursuits: Canadian Tire, offering products spanning Living, Playing, Fixing, Automotive, and Seasonal & Gardening, bolstered by notable banners Party City and PartSource; Mark’s, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players.