Canadian Tire (TSE:CTC) Stock Passes Above 50 Day Moving Average – What’s Next?

Canadian Tire Co., Limited (TSE:CTC) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$217.53 and traded as high as C$220.00. Canadian Tire shares last traded at C$217.50, with a volume of 344 shares changing hands.

Analysts Set New Price Targets

Separately, Scotiabank upgraded shares of Canadian Tire from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Canadian Tire currently has a consensus rating of “Hold”.

Canadian Tire Stock Performance

The company has a market cap of C$11.52 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 0.49 and a beta of 0.39. The stock has a 50 day moving average price of C$217.26 and a two-hundred day moving average price of C$235.62. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 166.61.

Canadian Tire (TSE:CTC) last released its quarterly earnings results on Thursday, February 19th. The company reported C$4.47 earnings per share (EPS) for the quarter. The business had revenue of C$4.55 billion during the quarter. Canadian Tire had a return on equity of 8.99% and a net margin of 3.24%. On average, research analysts predict that Canadian Tire Co., Limited will post 13.6961722 earnings per share for the current fiscal year.

About Canadian Tire

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or ‘CTC’, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.