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

Shares of Canadian Tire Co. Limited (TSE:CTC.A) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTC.A. TD reduced their price target on shares of Canadian Tire from C$205.00 to C$200.00 and set a “hold” rating on the stock in a research report on Friday, May 15th. Royal Bank Of Canada reduced their price target on shares of 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. BMO Capital Markets reduced their price target on shares of Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating on the stock in a research report on Friday, May 15th. TD Securities lifted their price target on shares of Canadian Tire from C$194.00 to C$205.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Finally, National Bank Financial reduced their price target on shares of Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating on the stock in a research report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$197.50.

Canadian Tire Price Performance

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 company’s fifty day moving average is C$185.39 and its two-hundred day moving average is C$180.26. The stock has a market cap of C$9.42 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 0.35 and a beta of 1.13.

Canadian Tire (TSE:CTC.A) last posted its earnings results on Thursday, May 14th. The company reported C$2.02 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$3.57 billion during the quarter. As a group, research analysts predict that Canadian Tire Co. Limited will post 13.638961 earnings per share 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.