Canadian Tire (TSE:CTC.A) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Canadian Tire's stock crossed above its 200-day moving average
• Several analysts raised price targets this week (BMO C$194, National Bank C$211, Desjardins C$203, TD C$205, Scotiabank C$180), but the consensus remains a "Hold" with an average target of C$192.29 (one Buy, four Holds).
• Key fundamentals: market cap C$9.87 billion, P/E 19.28 and PEG 0.35, but a notably high debt-to-equity ratio of 173.58, indicating elevated leverage on the balance sheet.

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$173.38 and traded as high as C$188.73. Canadian Tire shares last traded at C$186.39, with a volume of 288,247 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CTC.A shares. BMO Capital Markets raised their price target on shares of Canadian Tire from C$180.00 to C$194.00 and gave the stock a "market perform" rating in a report on Friday, February 20th. National Bank Financial boosted 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 report on Friday, February 20th. Scotiabank raised Canadian Tire from an "underperform" rating to a "sector perform" rating and upped their target price for the company from C$160.00 to C$180.00 in a research report on Friday, February 20th. Desjardins raised their target price on 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 lifted their price target on Canadian Tire from C$194.00 to C$205.00 and gave the stock a "hold" rating in a research report on Friday, February 20th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of C$192.29.

Canadian Tire Stock Performance

The stock has a market capitalization of C$9.87 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 0.35 and a beta of 1.20. The firm has a fifty day moving average of C$180.67 and a 200 day moving average of C$173.38. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15.

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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