Canadian Tire (TSE:CTC.A) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Canadian Tire Co. Limited (TSE:CTC.A) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$170.39 and traded as high as C$174.76. Canadian Tire shares last traded at C$172.69, with a volume of 265,959 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BMO Capital Markets cut shares of Canadian Tire from an “outperform” rating to a “market perform” rating and lowered their price target for the company from C$191.00 to C$175.00 in a research report on Friday, August 8th. National Bankshares decreased their target price on shares of Canadian Tire from C$190.00 to C$185.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 16th. Desjardins upped their target price on shares of Canadian Tire from C$175.00 to C$195.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. TD Securities decreased their target price on shares of Canadian Tire from C$184.00 to C$183.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Finally, Scotiabank upped their target price on shares of Canadian Tire from C$145.00 to C$150.00 and gave the company an “underperform” rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Canadian Tire presently has an average rating of “Hold” and an average price target of C$172.56.

Canadian Tire Price Performance

The company has a market cap of C$9.34 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.35 and a beta of 1.01. 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 stock’s 50-day simple moving average is C$169.24 and its 200 day simple moving average is C$170.39.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or ‘CTC’, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions.