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

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$191.21 and traded as high as C$206.08. Canadian Tire shares last traded at C$203.64, with a volume of 122,293 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CTC.A shares. Scotia increased their target price on Canadian Tire from C$180.00 to C$200.00 and gave the company a “sector perform” rating in a report on Friday, August 14th. Jefferies Financial Group upped their price target on Canadian Tire from C$179.00 to C$199.00 in a report on Friday, August 14th. Stifel Nicolaus upped their price target on Canadian Tire from C$115.00 to C$220.00 and gave the company a “buy” rating in a report on Friday, August 14th. TD increased their target price on shares of Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Finally, National Bank Financial cut their price target on Canadian Tire from C$210.00 to C$209.00 and set a “sector perform” rating for the company in a report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$204.00.

Canadian Tire Trading Down 1.8%

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 business’s fifty day moving average is C$192.82 and its 200 day moving average is C$191.35. The firm has a market capitalization of C$10.67 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.35 and a beta of 0.75.

About Canadian Tire

Canadian Tire Corporation, Limited (TSX: CTC.A, TSX: CTC, “CTC”) has been a proudly Canadian business since 1922. Guided by its brand purpose, “We are here to make life in Canada better,” CTC has built an expansive national retail presence, exceptional customer brand trust and one of Canada’s strongest workforces – employing, along with its local Dealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life’s pursuits: Canadian Tire, offering products spanning Living, Playing, Fixing, Automotive, and Seasonal & Gardening, bolstered by notable banners Party City and PartSource; Mark’s, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players.