Canadian Tire (TSE:CTC.A) Stock Price Passes 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 Monday . The stock has a 200-day moving average of C$174.56 and traded as high as C$182.69. Canadian Tire shares last traded at C$180.42, with a volume of 122,019 shares traded.

Analysts Set New Price Targets

CTC.A has been the subject of several research reports. BMO Capital Markets raised their target price on Canadian Tire from C$180.00 to C$194.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Scotiabank raised shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and upped their price target for the company from C$160.00 to C$180.00 in a report on Friday, February 20th. National Bank Financial raised their price objective on shares of Canadian Tire from C$201.00 to C$211.00 and gave the company a “sector perform” rating in a research report on Friday, February 20th. Desjardins lifted their price objective on shares of Canadian Tire from C$190.00 to C$203.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, TD Securities increased their target price on shares of Canadian Tire from C$194.00 to C$205.00 and gave the company a “hold” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$192.29.

Canadian Tire Stock Up 0.9%

The stock has a fifty day moving average of C$183.14 and a 200-day moving average of C$174.76. The firm has a market capitalization of C$10.00 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 0.35 and a beta of 1.20. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Canadian Tire (TSE:CTC.A) last announced its earnings results 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 business had revenue of C$4.55 billion during the quarter. As a group, sell-side analysts expect that Canadian Tire Co. Limited will post 13.638961 EPS for the current 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.