Canadian Tire (TSE:CTC.A) Reaches New 52-Week High – Time to Buy?

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price reached a new 52-week high on Monday . The stock traded as high as C$202.79 and last traded at C$202.33, with a volume of 67884 shares. The stock had previously closed at C$198.86.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. BMO Capital Markets cut their price objective on Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating for the company in a report on Friday, May 15th. TD boosted their target price on shares of Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Desjardins dropped their price target on shares of Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. National Bank Financial cut their price target on shares of Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating for the company in a research note on Friday, May 15th. Finally, Royal Bank Of Canada lowered their price target on Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Canadian Tire has a consensus rating of “Hold” and a consensus price target of C$200.56.

Canadian Tire Stock Performance

The stock has a market capitalization of C$10.67 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 0.35 and a beta of 1.04. The company’s fifty day simple moving average is C$186.85 and its 200 day simple moving average is C$185.30. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58.

Canadian Tire (TSE:CTC.A) last issued its quarterly earnings data on Thursday, May 14th. The company reported C$2.02 earnings per share for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The company had revenue of C$3.57 billion for the quarter. On average, equities research analysts expect that Canadian Tire Co. Limited will post 13.638961 earnings per share for the current year.

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.