Canadian Tire (TSE:CTC.A) Reaches New 1-Year High - Here's Why

Key Points

• Canadian Tire shares reached a new 52-week high, trading as high as C$208.55 and last at C$208.47, up from the prior close of C$203.64.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and six rate it a Hold, producing an overall “Hold” rating and an average price target of C$204.00.
• Several firms raised their targets, including RBC to C$230 with an “outperform” rating, while the company has a C$10.86 billion market capitalization and trades at a P/E ratio of 16.48.

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s share price reached a new 52-week high on Thursday. The stock traded as high as C$208.55 and last traded at C$208.47, with a volume of 27,854 shares traded. The stock had previously closed at C$203.64.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Scotia lifted their target price on shares of Canadian Tire from C$180.00 to C$200.00 and gave the stock a "sector perform" rating in a research report on Friday, August 14th. Royal Bank Of Canada upped their target price on Canadian Tire from C$218.00 to C$230.00 and gave the company an "outperform" rating in a report on Sunday, August 16th. National Bank Financial decreased their price target on Canadian Tire from C$210.00 to C$209.00 and set a "sector perform" rating for the company in a research report on Friday, August 14th. TD lifted their price target on Canadian Tire from C$200.00 to C$210.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Finally, Jefferies Financial Group lifted their price target on Canadian Tire from C$179.00 to C$199.00 in a report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of C$204.00.

Canadian Tire Stock Performance

The company's 50-day moving average is C$192.66 and its two-hundred day moving average is C$191.21. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The company has a market cap of C$10.86 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 0.35 and a beta of 0.75.

Canadian Tire Company Profile

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.

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