Canadian Tire (TSE:CTC.A) Hits New 52-Week High After Insider Buying Activity

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday following insider buying activity. The company traded as high as C$178.67 and last traded at C$178.32, with a volume of 8818 shares. The stock had previously closed at C$177.30.

Specifically, Director Steve Frazier acquired 450 shares of the stock in a transaction dated Monday, June 9th. The stock was bought at an average price of C$178.77 per share, with a total value of C$80,447.09.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Desjardins lifted their target price on shares of Canadian Tire from C$170.00 to C$175.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. TD Securities raised their price target on shares of Canadian Tire from C$170.00 to C$181.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Canaccord Genuity Group reduced their price objective on shares of Canadian Tire from C$158.00 to C$153.00 in a research note on Thursday, February 20th. CIBC decreased their price objective on Canadian Tire from C$165.00 to C$156.00 in a report on Friday, February 14th. Finally, 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$171.25.

Canadian Tire Trading Up 0.4%

The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. The firm has a market cap of C$9.39 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33. The firm's fifty day moving average is C$159.54 and its 200-day moving average is C$155.07.

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.