Canadian Tire (TSE:CTC.A) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Canadian Tire Co. Limited (TSE:CTC.A)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$186.73 and traded as high as C$206.17. Canadian Tire shares last traded at C$205.29, with a volume of 266,913 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CTC.A shares. Stifel Nicolaus set a C$215.00 target price on shares of Canadian Tire and gave the company a “buy” rating in a report on Wednesday, June 10th. TD raised their price target on Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. BMO Capital Markets dropped their price target 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. Desjardins reduced their price objective on Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, Royal Bank Of Canada decreased their price objective on Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$201.11.

Canadian Tire Stock Down 1.7%

The company has a market capitalization of C$10.69 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 0.35 and a beta of 1.04. 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 firm’s 50 day simple moving average is C$191.50 and its 200-day simple moving average is C$186.94.

Canadian Tire (TSE:CTC.A) last released its earnings results on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. The company 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 anticipate that Canadian Tire Co. Limited will post 13.638961 EPS 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.