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

Canadian Tire Co. Limited (TSE:CTC.A) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$181.82 and traded as high as C$195.96. Canadian Tire shares last traded at C$195.76, with a volume of 192,854 shares traded.

Analyst Upgrades and Downgrades

CTC.A has been the subject of several research reports. TD decreased their price target on shares of Canadian Tire from C$205.00 to C$200.00 and set a “hold” rating for the company in a report on Friday, May 15th. National Bank Financial dropped their price objective 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. BMO Capital Markets cut their target price on shares of Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating for the company in a research report on Friday, May 15th. Stifel Nicolaus set a C$215.00 target price on shares of Canadian Tire and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, Royal Bank Of Canada lowered 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 report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$199.44.

Canadian Tire Stock Performance

The firm has a 50-day simple moving average of C$184.20 and a two-hundred day simple moving average of C$181.82. 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 has a market capitalization of C$10.30 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.35 and a beta of 1.13.

Canadian Tire (TSE:CTC.A) last announced its quarterly earnings results on Thursday, May 14th. The company reported C$2.02 earnings per share (EPS) for the quarter. The business had revenue of C$3.57 billion during the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%. As a group, sell-side analysts forecast that Canadian Tire Co. Limited will post 13.638961 earnings per share 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.