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

Canadian Tire Co. Limited (TSE:CTC.A) passed 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 changing hands.

Wall Street Analysts Forecast Growth

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

Canadian Tire Price Performance

The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The company has a 50 day moving average of C$156.16 and a 200-day moving average of C$143.94. The firm has a market capitalization of C$8.34 billion, a P/E ratio of 23.32, a P/E/G ratio of 0.35 and a beta of 1.33.

Canadian Tire Company Profile

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.