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

Canadian Tire Co. Limited (TSE:CTC.A) shares 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CTC.A shares. BMO Capital Markets upped their price objective on Canadian Tire from C$180.00 to C$194.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Scotiabank raised 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 research report on Friday, February 20th. Desjardins boosted their target price on Canadian Tire from C$190.00 to C$203.00 and gave the company a “buy” rating in a research note on Friday, February 20th. TD Securities upped their price target on 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. Finally, National Bank Financial raised their price target on shares of Canadian Tire from C$201.00 to C$211.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$192.29.

Canadian Tire Trading Down 0.0%

The company has a market cap of C$9.96 billion, a P/E ratio of 19.54, a PEG ratio of 0.35 and a beta of 1.09. 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 business has a 50 day moving average price of C$189.88 and a 200-day moving average price of C$178.44.

Canadian Tire (TSE:CTC.A) last released its earnings results on Thursday, February 19th. The company reported C$4.47 earnings per share for the quarter. The business had revenue of C$4.55 billion during the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. Analysts forecast 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) 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.