Canadian Tire (TSE:CTC.A) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Canadian Tire Co. Limited (TSE:CTC.A) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$180.26 and traded as high as C$180.46. Canadian Tire shares last traded at C$179.13, with a volume of 113,497 shares changing hands.

Wall Street Analysts Forecast Growth

CTC.A has been the topic of several analyst reports. Royal Bank Of Canada decreased their price target on Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. TD Securities boosted their price objective on Canadian Tire from C$194.00 to C$205.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Desjardins cut their price objective on Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating for the company in a report on Friday, May 15th. Scotiabank raised Canadian Tire from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from C$160.00 to C$180.00 in a report on Friday, February 20th. Finally, TD cut their price objective on Canadian Tire from C$205.00 to C$200.00 and set a “hold” rating for the company in a report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$199.44.

Canadian Tire Stock Down 0.6%

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 stock has a 50 day simple moving average of C$185.37 and a 200 day simple moving average of C$180.45. The firm has a market capitalization of C$9.45 billion, a PE ratio of 16.30, a PEG ratio of 0.35 and a beta of 1.13.

Canadian Tire (TSE:CTC.A) last issued its quarterly earnings data on Thursday, May 14th. The company reported C$2.02 earnings per share for the quarter. The firm 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%. As a group, sell-side analysts forecast that Canadian Tire Co. Limited will post 13.638961 earnings per share for the current year.

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.