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

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$171.05 and traded as high as C$185.44. Canadian Tire shares last traded at C$184.74, with a volume of 179,661 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on CTC.A shares. Desjardins boosted their target price on Canadian Tire from C$185.00 to C$190.00 in a report on Friday, November 7th. TD Securities boosted their price objective on Canadian Tire from C$183.00 to C$194.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Scotiabank raised their target price on Canadian Tire from C$150.00 to C$155.00 and gave the company an “underperform” rating in a research note on Friday, November 7th. Canadian Imperial Bank of Commerce lifted their target price on Canadian Tire from C$181.00 to C$189.00 in a report on Friday, November 7th. Finally, National Bank Financial upped their price target on shares of Canadian Tire from C$197.00 to C$201.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$178.25.

Canadian Tire Price Performance

The company has a market cap of C$9.87 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.35 and a beta of 0.90. The stock has a fifty day moving average price of C$174.62 and a 200-day moving average price of C$171.05. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15.

About Canadian Tire

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.