Canadian Tire (TSE:CTC.A) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$159.96 and traded as high as C$191.89. Canadian Tire shares last traded at C$189.67, with a volume of 276,539 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CTC.A shares. National Bankshares lifted their price target on shares of Canadian Tire from C$173.00 to C$204.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Desjardins lifted their target price on shares of Canadian Tire from C$170.00 to C$175.00 and gave the company a "buy" rating in a report on Friday, May 9th. TD Securities lifted their target price on shares of Canadian Tire from C$170.00 to C$181.00 and gave the company a "buy" rating in a report on Friday, May 9th. BMO Capital Markets boosted their price objective on shares of Canadian Tire from C$170.00 to C$175.00 in a report on Friday, May 9th. Finally, Jefferies Financial Group lifted their target price on shares of Canadian Tire from C$140.00 to C$164.00 in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Canadian Tire currently has a consensus rating of "Moderate Buy" and a consensus target price of C$175.00.

Canadian Tire Trading Up 0.8%

The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The firm's 50 day simple moving average is C$176.20 and its 200-day simple moving average is C$159.96. The company has a market capitalization of C$9.98 billion, a PE ratio of 27.90, a P/E/G ratio of 0.35 and a beta of 1.33.

Insider Buying and Selling at Canadian Tire

In related news, Director Steve Frazier acquired 450 shares of Canadian Tire stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of C$178.77 per share, for a total transaction of C$80,447.09. Company insiders own 1.90% of the company's stock.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.