Canadian Tire (TSE:CTC) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Technical breakout: Canadian Tire's share price crossed above its 50‑day moving average (50‑day MA C$217.89) and last traded at C$237.73, which is also above its 200‑day MA of C$226.02.
• Analyst move: Scotiabank upgraded the stock from "strong sell" to "hold," and the consensus from three covering analysts is an average rating of "Hold."
• Recent results and valuation: The company reported C$4.47 EPS on C$4.55B revenue last quarter, with a market cap of C$12.53B, a P/E of 24.58 and a debt‑to‑equity ratio of 166.61.

Canadian Tire Co., Limited (TSE:CTC - Get Free Report)'s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$217.89 and traded as high as C$237.73. Canadian Tire shares last traded at C$237.73, with a volume of 376 shares.

Analyst Upgrades and Downgrades

Separately, Scotiabank raised shares of Canadian Tire from a "strong sell" rating to a "hold" rating in a report on Friday, February 20th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

Canadian Tire Stock Down 0.9%

The stock's fifty day moving average is C$217.89 and its two-hundred day moving average is C$226.02. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 166.61. The firm has a market cap of C$12.53 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 0.49 and a beta of 0.48.

Canadian Tire (TSE:CTC - Get Free Report) last posted 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 for the quarter. Canadian Tire had a net margin of 3.24% and a return on equity of 8.99%. As a group, research analysts anticipate that Canadian Tire Co., Limited will post 13.6961722 earnings per share 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.

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