Canadian Tire (TSE:CTC.A) Stock Crosses Above 200 Day Moving Average – Here’s Why

Canadian Tire Co. Limited (TSE:CTC.A)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$163.11 and traded as high as C$186.00. Canadian Tire shares last traded at C$184.03, with a volume of 507,163 shares.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. National Bankshares upped their target price on shares of Canadian Tire from C$173.00 to C$204.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 16th. Desjardins increased their price target on shares of Canadian Tire from C$170.00 to C$175.00 and gave the stock a “buy” rating in a report on Friday, May 9th. TD Securities increased their price target on shares of Canadian Tire from C$181.00 to C$201.00 and gave the stock a “buy” rating in a report on Monday, July 28th. BMO Capital Markets increased their price target on shares of Canadian Tire from C$170.00 to C$175.00 in a report on Friday, May 9th. Finally, Jefferies Financial Group increased their price target on shares of Canadian Tire from C$140.00 to C$164.00 in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Canadian Tire currently has a consensus rating of “Moderate Buy” and an average target price of C$177.50.

Canadian Tire Stock Down 0.8%

The stock has a market cap of C$9.61 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33. The stock’s fifty day moving average price is C$183.39 and its 200 day moving average price is C$163.11. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Insider Activity

In other Canadian Tire news, Director Steve Frazier acquired 450 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was bought at an average price of C$178.77 per share, with a total value of C$80,447.09. Company insiders own 1.90% of the company’s stock.

About Canadian Tire

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.