Canadian Tire (TSE:CTC.A) Hits New 52-Week High – Still a Buy?

Shares of Canadian Tire Co. Limited (TSE:CTC.A) hit a new 52-week high on Thursday . The stock traded as high as C$196.99 and last traded at C$196.52, with a volume of 203750 shares changing hands. The stock had previously closed at C$194.63.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Desjardins boosted their price objective on Canadian Tire from C$190.00 to C$203.00 and gave the company a “buy” rating in a research report on Friday, February 20th. National Bank Financial lifted their target price on shares of Canadian Tire from C$201.00 to C$211.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. TD Securities increased their price target on shares of Canadian Tire from C$194.00 to C$205.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Scotiabank upgraded shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and increased their target price for the stock from C$160.00 to C$180.00 in a report on Friday, February 20th. Finally, Canadian Imperial Bank of Commerce raised their target price on Canadian Tire from C$181.00 to C$189.00 in a research note on Friday, November 7th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Canadian Tire currently has a consensus rating of “Hold” and a consensus target price of C$192.29.

Canadian Tire Stock Up 1.0%

The company has a 50-day moving average of C$178.58 and a two-hundred day moving average of C$172.44. 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 capitalization of C$10.41 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 0.35 and a beta of 0.90.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or ‘CTC’, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.