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

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$183.86 and traded as high as C$193.56. Canadian Tire shares last traded at C$190.53, with a volume of 235,044 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus set a C$215.00 price target on shares of Canadian Tire and gave the stock a “buy” rating in a research report on Wednesday, June 10th. National Bank Financial reduced their target price on Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating on the stock in a report on Friday, May 15th. TD decreased their target price on Canadian Tire from C$205.00 to C$200.00 and set a “hold” rating for the company in a research note on Friday, May 15th. Desjardins lowered their price target on Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, BMO Capital Markets lowered their price target on Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating for the company in a report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Canadian Tire currently has an average rating of “Hold” and an average target price of C$199.44.

Canadian Tire Price Performance

The company’s fifty day moving average price is C$184.65 and its two-hundred day moving average price is C$183.86. 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 company has a market cap of C$10.02 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 0.35 and a beta of 1.04.

Canadian Tire (TSE:CTC.A) last issued its quarterly earnings data on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The business had revenue of C$3.57 billion for the quarter. On average, equities research analysts forecast that Canadian Tire Co. Limited will post 13.638961 EPS for the current fiscal 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.