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

Canadian Tire Co. Limited (TSE:CTC.A) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$173.62 and traded as high as C$173.62. Canadian Tire shares last traded at C$173.35, with a volume of 127,088 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CTC.A shares. Desjardins lifted their target price on shares of Canadian Tire from C$185.00 to C$190.00 in a research report on Friday, November 7th. TD Securities boosted their price target on Canadian Tire from C$183.00 to C$194.00 and gave the company a “hold” rating in a research note on Friday, November 7th. BMO Capital Markets increased their price target on Canadian Tire from C$175.00 to C$180.00 in a report on Monday, November 10th. Scotiabank boosted their price objective on shares of Canadian Tire from C$150.00 to C$155.00 and gave the stock an “underperform” rating in a research note on Friday, November 7th. Finally, CIBC raised their price target on Canadian Tire from C$181.00 to C$189.00 in a research report on Friday, November 7th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$177.75.

Canadian Tire Trading Up 0.2%

The business has a 50 day moving average of C$169.62 and a two-hundred day moving average of C$173.62. The firm has a market capitalization of C$9.26 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 0.35 and a beta of 1.07. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79.

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. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.