Canadian Tire (TSE:CTC.A) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Canadian Tire Co. Limited (TSE:CTC.A)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$181.07 and traded as high as C$187.01. Canadian Tire shares last traded at C$186.05, with a volume of 109,196 shares traded.

Analyst Ratings Changes

CTC.A has been the topic of a number of analyst reports. National Bank Financial dropped 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 note on Friday, May 15th. TD Securities upped 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 research note on Friday, February 20th. Desjardins dropped their price target on shares of Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. TD dropped 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 note on Friday, May 15th. Finally, Royal Bank Of Canada dropped 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 note on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$199.44.

Canadian Tire Trading Up 0.1%

The stock has a 50-day simple moving average of C$185.03 and a two-hundred day simple moving average of C$181.07. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. The firm has a market cap of C$9.79 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.35 and a beta of 1.13.

Canadian Tire (TSE:CTC.A) last issued its earnings results on Thursday, May 14th. The company reported C$2.02 earnings per share for the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%.The business had revenue of C$3.57 billion during the quarter. As a group, sell-side 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, “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.