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

Canadian Tire Co. Limited (TSE:CTC.A)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$173.98 and traded as high as C$182.93. Canadian Tire shares last traded at C$178.39, with a volume of 467,500 shares.

Analyst Ratings Changes

A number of research firms have weighed in on CTC.A. BMO Capital Markets increased their target price on shares of Canadian Tire from C$180.00 to C$194.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Desjardins upped their price objective on shares of Canadian Tire from C$190.00 to C$203.00 and gave the company a “buy” 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 objective for the stock from C$160.00 to C$180.00 in a research report on Friday, February 20th. National Bank Financial lifted their target price on shares of Canadian Tire from C$201.00 to C$211.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Finally, TD Securities boosted their target price on shares of Canadian Tire from C$194.00 to C$205.00 and gave the company a “hold” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$192.29.

Canadian Tire Trading Down 2.6%

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 firm has a market capitalization of C$9.45 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 0.35 and a beta of 1.20. The firm’s 50-day simple moving average is C$181.82 and its 200-day simple moving average is C$173.98.

Canadian Tire (TSE:CTC.A) last posted its quarterly earnings data on Thursday, February 19th. The company reported C$4.47 earnings per share for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The firm had revenue of C$4.55 billion for the quarter. Analysts anticipate that Canadian Tire Co. Limited will post 13.638961 EPS for the current 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.