Canadian Tire (TSE:CTC.A) Shares Cross Above 200-Day Moving Average - Here's Why

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$152.36 and traded as high as C$166.38. Canadian Tire shares last traded at C$166.03, with a volume of 354,944 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTC.A. National Bankshares raised their price target on shares of Canadian Tire from C$70.00 to C$174.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. CIBC reduced their target price on Canadian Tire from C$165.00 to C$156.00 in a research report on Friday, February 14th. Desjardins boosted their target price on Canadian Tire from C$170.00 to C$175.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. TD Securities boosted their target price on Canadian Tire from C$170.00 to C$181.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group boosted their target price on 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$171.25.

Canadian Tire Stock Down 0.3%

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 company has a 50-day simple moving average of C$152.20 and a two-hundred day simple moving average of C$152.87. The stock has a market cap of C$8.77 billion, a P/E ratio of 24.53, a P/E/G ratio of 0.35 and a beta of 1.33.

About Canadian Tire

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.