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

Canadian Tire Co. Limited (TSE:CTC.A)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$179.28 and traded as high as C$180.00. Canadian Tire shares last traded at C$174.95, with a volume of 265,583 shares trading hands.

Wall Street Analysts Forecast Growth

CTC.A has been the subject of a number of recent analyst reports. National Bank Financial lifted their price target on shares of Canadian Tire from C$201.00 to C$211.00 and gave the company a “sector perform” rating in a research report on Friday, February 20th. Royal Bank Of Canada lifted their price objective on Canadian Tire from C$211.00 to C$220.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. TD Securities boosted their target price on shares of Canadian Tire from C$194.00 to C$205.00 and gave the stock a “hold” rating in a research note on Friday, February 20th. Scotiabank upgraded shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and increased their price target for the company from C$160.00 to C$180.00 in a research note on Friday, February 20th. Finally, BMO Capital Markets raised their price objective on Canadian Tire from C$180.00 to C$194.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Canadian Tire has an average rating of “Hold” and a consensus target price of C$200.29.

Canadian Tire Stock Down 4.1%

The company has a market capitalization of C$9.22 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.35 and a beta of 1.17. The firm’s 50 day simple moving average is C$189.09 and its 200-day simple moving average is C$179.28. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Canadian Tire (TSE:CTC.A) last announced its quarterly earnings data on Thursday, May 14th. The company reported C$2.02 earnings per share for the quarter. The company had revenue of C$3.57 billion for the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%. On average, sell-side analysts anticipate that Canadian Tire Co. Limited will post 13.638961 EPS for the current fiscal year.

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.