Canadian Tire (TSE:CTC.A) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$181.07 and traded as high as C$187.01. Canadian Tire shares last traded at C$186.05, with a volume of 109,196 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTC.A. TD decreased their price target on Canadian Tire from C$205.00 to C$200.00 and set a “hold” rating for the company in a report on Friday, May 15th. TD Securities upped their price objective on shares of Canadian Tire from C$194.00 to C$205.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. National Bank Financial reduced their target price on shares of Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating for the company in a research note on Friday, May 15th. Scotiabank raised shares of 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. Finally, Stifel Nicolaus set a C$215.00 price target on shares of Canadian Tire and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$199.44.

Canadian Tire Stock Down 0.0%

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 firm has a market capitalization of C$9.82 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.35 and a beta of 1.13. The firm has a fifty day moving average price of C$184.97 and a 200 day moving average price of C$181.19.

Canadian Tire (TSE:CTC.A) last announced its quarterly earnings data on Thursday, May 14th. The company reported C$2.02 earnings per share for the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%.The firm had revenue of C$3.57 billion for the quarter. As a group, sell-side analysts expect 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.