Canadian Tire (TSE:CTC.A) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Canadian Tire Co. Limited (TSE:CTC.A) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$171.80 and traded as high as C$192.34. Canadian Tire shares last traded at C$191.33, with a volume of 407,411 shares changing hands.

Analysts Set New Price Targets

CTC.A has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce raised their target price on Canadian Tire from C$181.00 to C$189.00 in a research note on Friday, November 7th. National Bank Financial boosted their price target on Canadian Tire from C$201.00 to C$211.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. 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 research note on Friday, February 20th. Scotiabank upgraded Canadian Tire from an “underperform” rating to a “sector perform” rating and upped their target price for the company from C$160.00 to C$180.00 in a research report on Friday, February 20th. Finally, TD Securities increased their price target on shares of Canadian Tire from C$194.00 to C$205.00 and gave the stock a “hold” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Canadian Tire currently has a consensus rating of “Hold” and an average target price of C$192.29.

Canadian Tire Price Performance

The firm has a market cap of C$10.22 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 0.35 and a beta of 0.90. The stock has a 50 day simple moving average of C$177.32 and a two-hundred day simple moving average of C$171.80. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79.

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.