Canadian Tire (TSE:CTC.A) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 changing hands.

Analysts Set New Price Targets

CTC.A has been the topic of a number of analyst reports. Royal Bank Of Canada dropped their target price on Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. TD lowered their price objective 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. Stifel Nicolaus set a C$215.00 price objective on Canadian Tire and gave the stock a “buy” rating in a report on Wednesday, June 10th. BMO Capital Markets cut their target price on Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating on the stock in a research report on Friday, May 15th. Finally, National Bank Financial decreased their price target 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. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$199.44.

Canadian Tire Stock Down 0.4%

The stock’s fifty day simple moving average is C$184.11 and its two-hundred day simple moving average is C$181.91. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. The company has a market capitalization of C$10.26 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.35 and a beta of 1.13.

Canadian Tire (TSE:CTC.A) last posted its quarterly earnings results on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. The business had revenue of C$3.57 billion during the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. On average, sell-side analysts predict 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.