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

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$143.83 and traded as high as C$158.81. Canadian Tire shares last traded at C$158.81, with a volume of 226,030 shares.

Wall Street Analysts Forecast Growth

CTC.A has been the subject of several research reports. TD Securities raised Canadian Tire from a “hold” rating to a “buy” rating and boosted their target price for the company from C$160.00 to C$175.00 in a report on Friday, August 9th. Jefferies Financial Group boosted their price objective on Canadian Tire from C$121.00 to C$126.00 in a research note on Friday, August 9th. CIBC raised their target price on shares of Canadian Tire from C$153.00 to C$160.00 in a research report on Friday, August 9th. National Bankshares lifted their target price on shares of Canadian Tire from C$146.00 to C$158.00 in a report on Friday, August 9th. Finally, Desjardins increased their price target on shares of Canadian Tire from C$165.00 to C$175.00 in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Canadian Tire has a consensus rating of “Moderate Buy” and a consensus price target of C$147.11.

Canadian Tire Price Performance

The firm has a market capitalization of C$8.29 billion, a PE ratio of 23.18, a P/E/G ratio of 0.35 and a beta of 1.33. The company has a 50-day moving average price of C$155.73 and a 200-day moving average price of C$143.83. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15.

About Canadian Tire

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.