Canadian Tire (TSE:CTC.A) Shares Up 2.1% – Should You Buy?

Canadian Tire Co. Limited (TSE:CTC.A) shot up 2.1% during trading on Monday . The stock traded as high as C$158.37 and last traded at C$157.28. 539,799 shares traded hands during mid-day trading, an increase of 129% from the average session volume of 235,639 shares. The stock had previously closed at C$154.07.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Canadian Tire from C$188.00 to C$192.00 in a research report on Friday, November 8th. CIBC boosted their price objective on Canadian Tire from C$160.00 to C$165.00 in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$147.89.

Canadian Tire Stock Performance

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 business’s fifty day simple moving average is C$155.23 and its two-hundred day simple moving average is C$148.49. The company has a market cap of C$8.08 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.35 and a beta of 1.33.

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.