Canadian Tire (TSE:CTC.A) Hits New 52-Week High – Here’s What Happened

Canadian Tire Co. Limited (TSE:CTC.A) hit a new 52-week high on Thursday . The company traded as high as C$164.61 and last traded at C$164.37, with a volume of 65649 shares changing hands. The stock had previously closed at C$159.62.

Analyst Upgrades and Downgrades

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

Canadian Tire Stock Performance

The firm’s 50 day moving average is C$155.56 and its 200 day moving average is C$152.96. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. The stock has a market cap of C$8.75 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33.

Insider Transactions at Canadian Tire

In other Canadian Tire news, Director Steve Frazier purchased 350 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of C$152.56 per share, for a total transaction of C$53,397.68. Insiders own 1.90% of the company’s stock.

About Canadian Tire

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.