Canadian Tire (TSE:CTC.A) Shares Pass Above 200 Day Moving Average – Time to Sell?

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$183.86 and traded as high as C$193.56. Canadian Tire shares last traded at C$190.53, with a volume of 235,044 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD upped their price objective on Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a research note on Wednesday. BMO Capital Markets decreased 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 note on Friday, May 15th. Desjardins lowered their price target on Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Royal Bank Of Canada dropped their price target on Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Finally, Stifel Nicolaus set a C$215.00 price objective on shares of Canadian Tire and gave the company a “buy” rating in a report on Wednesday, June 10th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Tire presently has a consensus rating of “Hold” and an average target price of C$200.56.

Canadian Tire Stock Performance

The company has a market capitalization of C$10.27 billion, a P/E ratio of 17.71, a P/E/G ratio of 0.35 and a beta of 1.04. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. The business’s fifty day simple moving average is C$184.73 and its 200-day simple moving average is C$184.00.

Canadian Tire (TSE:CTC.A) last released its quarterly earnings data on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The business had revenue of C$3.57 billion during the quarter. As a group, equities analysts anticipate that Canadian Tire Co. Limited will post 13.638961 earnings per share for the current fiscal year.

Canadian Tire Company Profile

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.