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

Canadian Tire Co. Limited (TSE:CTC.A)’s share price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$190.08 and traded as high as C$193.27. Canadian Tire shares last traded at C$192.59, with a volume of 350,542 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CTC.A shares. Stifel Nicolaus upped their price objective on Canadian Tire from C$115.00 to C$220.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Desjardins increased their target price on shares of Canadian Tire from C$200.00 to C$217.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. TD upped their price objective on shares of Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada raised their price target on Canadian Tire from C$218.00 to C$230.00 and gave the company an “outperform” rating in a research report on Sunday, August 16th. Finally, Jefferies Financial Group upped their target price on Canadian Tire from C$179.00 to C$199.00 in a research note on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Canadian Tire presently has a consensus rating of “Hold” and a consensus price target of C$204.00.

Canadian Tire Trading Up 1.2%

The firm’s 50-day simple moving average is C$194.77 and its 200-day simple moving average is C$190.08. The firm has a market capitalization of C$10.04 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.35 and a beta of 0.87. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58.

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.