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

Key Points

• Canadian Tire shares reached a 52-week high, trading as high as C$209.20 and last at C$208.42, up from the previous close of C$202.68.
• Analyst views remain mostly neutral: three analysts rate the stock Buy and six Hold, giving it a consensus Hold rating and average price target of C$204.
• Price targets were mixed, ranging from National Bank Financial’s lowered C$209 target to RBC’s raised C$230 target.

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

Analyst Upgrades and Downgrades

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

Canadian Tire Stock Up 3.2%

The company has a market capitalization of C$10.91 billion, a PE ratio of 16.55, a P/E/G ratio of 0.35 and a beta of 0.75. The stock's fifty day moving average is C$193.63 and its two-hundred day moving average is C$189.53. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

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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