Canadian Tire (TSE:CTC.A) Sets New 12-Month High – Here’s Why

Canadian Tire Co. Limited (TSE:CTC.A)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$164.13 and last traded at C$163.98, with a volume of 8499 shares changing hands. The stock had previously closed at C$162.18.

Analyst Ratings Changes

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

Canadian Tire Price Performance

The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The business’s fifty day moving average is C$153.78 and its 200 day moving average is C$151.46. The company has a market cap of C$8.49 billion, a P/E ratio of 23.75, a PEG ratio of 0.35 and a beta of 1.33.

Insider Activity at Canadian Tire

In other news, Director Steve Frazier acquired 350 shares of Canadian Tire stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of C$152.56 per share, with a total value of C$53,397.68. 1.90% of the stock is currently owned by corporate insiders.

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.