Canadian Tire (TSE:CTC.A) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$182.92 and traded as high as C$198.00. Canadian Tire shares last traded at C$197.97, with a volume of 45,571 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Desjardins reduced their price objective 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. National Bank Financial dropped their target price on shares of Canadian Tire from C$211.00 to C$205.00 and set a “sector 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. 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. Finally, BMO Capital Markets decreased 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 research note on Friday, May 15th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Canadian Tire has a consensus rating of “Hold” and a consensus target price of C$199.44.

Canadian Tire Trading Up 0.8%

The firm has a market cap of C$10.42 billion, a P/E ratio of 17.96, a P/E/G ratio of 0.35 and a beta of 1.13. The business’s 50-day moving average is C$184.40 and its two-hundred day moving average is C$182.92. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Canadian Tire (TSE:CTC.A) last issued its earnings results on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. The company 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, analysts expect that Canadian Tire Co. Limited will post 13.638961 earnings per share for the current fiscal year.

Canadian Tire Company Profile

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.