Canadian Tire (TSE:CTC.A) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Canadian Tire Co. Limited (TSE:CTC.A) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$190.48 and traded as high as C$194.30. Canadian Tire shares last traded at C$192.68, with a volume of 260,311 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotia boosted their price objective on shares of Canadian Tire from C$180.00 to C$200.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. Royal Bank Of Canada raised their target price on shares of Canadian Tire from C$218.00 to C$230.00 and gave the stock an “outperform” rating in a research report on Sunday, August 16th. TD raised their target price on shares of Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Desjardins lifted their price target on shares of Canadian Tire from C$200.00 to C$217.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group lifted their price target on shares of Canadian Tire from C$179.00 to C$199.00 in a research note on Friday, August 14th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$204.00.

Canadian Tire Stock Up 3.6%

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$192.62 and a 200-day moving average price of C$190.56. The firm has a market cap of C$10.54 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.35 and a beta of 0.75.

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.