Canadian Tire (TSE:CTC.A) Reaches New 12-Month High – Time to Buy?

Canadian Tire Co. Limited (TSE:CTC.A) reached a new 52-week high during trading on Wednesday. The stock traded as high as C$209.20 and last traded at C$208.42, with a volume of 46,555 shares. The stock had previously closed at C$202.68.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus boosted their target price on Canadian Tire from C$115.00 to C$220.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Desjardins increased their target price on shares of Canadian Tire from C$200.00 to C$217.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. TD increased their price target on Canadian Tire from C$200.00 to C$210.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. National Bank Financial lowered their price objective on shares of Canadian Tire from C$210.00 to C$209.00 and set a “sector perform” rating on the stock in a research report on Friday, August 14th. Finally, Scotia boosted their target price on Canadian Tire from C$180.00 to C$200.00 and gave the company a “sector perform” rating in a research note on Friday, August 14th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Tire has a consensus rating of “Hold” and a consensus target price of C$204.00.

Canadian Tire Price Performance

The firm has a market capitalization of C$10.66 billion, a P/E ratio of 16.17, a PEG ratio of 0.35 and a beta of 0.66. The business’s 50-day simple moving average is C$194.39 and its 200 day simple moving average is C$189.83. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58.

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.