Canadian Tire (TSE:CTC.A) Share Price Crosses Above 200-Day Moving Average – Here’s Why
by Jessica Moore · The Cerbat GemCanadian Tire Co. Limited (TSE:CTC.A – Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$189.46 and traded as high as C$200.00. Canadian Tire shares last traded at C$194.30, with a volume of 390,814 shares traded.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on CTC.A. Royal Bank Of Canada raised their price target on shares of Canadian Tire from C$218.00 to C$230.00 and gave the company an “outperform” rating in a report on Sunday, August 16th. TD boosted their price objective on shares of Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Desjardins upped their price objective on shares of Canadian Tire from C$200.00 to C$217.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. BMO Capital Markets lowered their target price on Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating for the company in a research note on Friday, May 15th. Finally, Jefferies Financial Group lifted their target price on Canadian Tire from C$179.00 to C$199.00 in a research report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Canadian Tire has a consensus rating of “Hold” and an average price target of C$204.00.
View Our Latest Stock Report on Canadian Tire
Canadian Tire Stock Down 1.7%
The firm’s fifty day moving average is C$197.10 and its two-hundred day moving average is C$189.54. The firm has a market cap of C$9.74 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 0.35 and a beta of 1.04. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15.
Canadian Tire Company Profile
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.