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

Canadian Tire Co. Limited (TSE:CTC.A)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$178.44 and traded as high as C$189.39. Canadian Tire shares last traded at C$188.91, with a volume of 254,223 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTC.A. Desjardins lifted their target price on Canadian Tire from C$190.00 to C$203.00 and gave the company a “buy” rating in a report on Friday, February 20th. TD Securities lifted their target price on Canadian Tire from C$194.00 to C$205.00 and gave the company a “hold” rating in a report on Friday, February 20th. BMO Capital Markets lifted their target price on Canadian Tire from C$180.00 to C$194.00 and gave the company a “market perform” rating in a report on Friday, February 20th. National Bank Financial lifted their target price on Canadian Tire from C$201.00 to C$211.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. Finally, Scotiabank upgraded Canadian Tire from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from C$160.00 to C$180.00 in a report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$192.29.

Canadian Tire Stock Up 0.1%

The firm has a 50-day simple moving average of C$189.88 and a 200 day simple moving average of C$178.44. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. The company has a market capitalization of C$9.97 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 0.35 and a beta of 1.09.

Canadian Tire (TSE:CTC.A) last released its quarterly earnings data on Thursday, February 19th. The company reported C$4.47 EPS for the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%.The company had revenue of C$4.55 billion for the quarter. On average, research analysts predict 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) 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.