Canadian Tire (TSE:CTC) Stock Crosses Above 50-Day Moving Average – Here’s Why

Canadian Tire Co., Limited (TSE:CTC)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$213.82 and traded as high as C$216.60. Canadian Tire shares last traded at C$216.60, with a volume of 480 shares changing hands.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upgraded Canadian Tire to a “strong-buy” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Canadian Tire currently has a consensus rating of “Buy”.

Canadian Tire Stock Performance

The stock has a market capitalization of C$11.60 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 0.49 and a beta of 0.70. The company’s fifty day simple moving average is C$213.95 and its 200 day simple moving average is C$216.43. The company has a quick ratio of 1.15, a current ratio of 1.74 and a debt-to-equity ratio of 133.63.

Canadian Tire (TSE:CTC) last announced its earnings results on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. Canadian Tire had a net margin of 3.65% and a return on equity of 10.24%. The business had revenue of C$3.57 billion during the quarter. On average, equities research analysts expect that Canadian Tire Co., Limited will post 13.6961722 earnings per share for the current 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.