Canadian Tire (TSE:CTC.A) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Canadian Tire Co. Limited (TSE:CTC.A) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$155.46 and traded as high as C$181.79. Canadian Tire shares last traded at C$180.00, with a volume of 159,903 shares changing hands.

Analyst Ratings Changes

Several analysts recently weighed in on CTC.A shares. BMO Capital Markets upped their price objective on Canadian Tire from C$170.00 to C$175.00 in a research report on Friday, May 9th. Jefferies Financial Group boosted their target price on Canadian Tire from C$140.00 to C$164.00 in a research note on Friday, May 9th. Canaccord Genuity Group reduced their price target on shares of Canadian Tire from C$158.00 to C$153.00 in a research note on Thursday, February 20th. Desjardins lifted their price target on shares of Canadian Tire from C$170.00 to C$175.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, TD Securities increased their price objective on shares of Canadian Tire from C$170.00 to C$181.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$171.25.

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 50-day simple moving average is C$160.99 and its two-hundred day simple moving average is C$155.46. The firm has a market cap of C$9.40 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 0.35 and a beta of 1.33.

Insider Activity

In related news, Director Steve Frazier purchased 450 shares of Canadian Tire stock in a transaction on Monday, June 9th. The stock was acquired at an average cost of C$178.77 per share, for a total transaction of C$80,447.09. 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.