Canadian Tire (TSE:CTC.A) Hits New 12-Month High - Here's Why

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$184.59 and last traded at C$184.43, with a volume of 27527 shares traded. The stock had previously closed at C$183.49.

Analyst Ratings Changes

Several brokerages recently issued reports on CTC.A. BMO Capital Markets increased their price objective on Canadian Tire from C$170.00 to C$175.00 in a report on Friday, May 9th. TD Securities increased their target price on shares of Canadian Tire from C$170.00 to C$181.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. National Bankshares increased their target price on shares of Canadian Tire from C$70.00 to C$174.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Desjardins increased 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. Finally, Jefferies Financial Group increased their target price on shares of Canadian Tire from C$140.00 to C$164.00 in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Tire has an average rating of "Moderate Buy" and a consensus price target of C$171.25.

Canadian Tire Trading Down 0.7%

The company has a market capitalization of C$9.46 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 0.35 and a beta of 1.33. The company has a 50-day moving average price of C$166.76 and a 200-day moving average price of C$156.92. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58.

Insider Activity

In other Canadian Tire news, Director Steve Frazier purchased 450 shares of the stock in a transaction dated Monday, June 9th. The shares were bought at an average cost of C$178.77 per share, with a total value of C$80,447.09. 1.90% of the stock is currently owned by company insiders.

Canadian Tire Company Profile

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.