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

Key Points

• Canadian Tire shares moved above their 200-day moving average on Monday, trading as high as C$193.56 and last changing hands at C$190.53. The move comes as the stock shows recent technical strength.
• Analysts remain mixed on the stock, with three Buy ratings and five Hold ratings, resulting in a consensus “Hold” and an average target price of C$199.44. Several firms have recently trimmed their price targets, though Stifel still has a C$215 target and Buy rating.
• Recent fundamentals were solid but modest, with the company reporting C$2.02 in quarterly EPS on revenue of C$3.57 billion. Canadian Tire also posted a net margin of 2.33% and return on equity of 7.45%.

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$183.86 and traded as high as C$193.56. Canadian Tire shares last traded at C$190.53, with a volume of 235,044 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTC.A. Royal Bank Of Canada reduced their price target on shares of Canadian Tire from C$220.00 to C$216.00 and set an "outperform" rating on the stock in a research report on Friday, May 15th. National Bank Financial lowered their price objective on shares of Canadian Tire from C$211.00 to C$205.00 and set a "sector perform" rating for the company in a research report on Friday, May 15th. BMO Capital Markets dropped their target price on shares of Canadian Tire from C$194.00 to C$185.00 and set a "market perform" rating for the company in a research note on Friday, May 15th. Stifel Nicolaus set a C$215.00 target price on shares of Canadian Tire and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Finally, TD reduced their target price on shares of Canadian Tire from C$205.00 to C$200.00 and set a "hold" rating on the stock in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Tire has a consensus rating of "Hold" and an average target price of C$199.44.

Canadian Tire Trading Down 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 company has a market cap of C$10.02 billion, a P/E ratio of 17.29, a P/E/G ratio of 0.35 and a beta of 1.04. The business has a 50-day moving average price of C$184.65 and a two-hundred day moving average price of C$183.86.

Canadian Tire (TSE:CTC.A - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported C$2.02 earnings per share (EPS) for the quarter. The firm had revenue of C$3.57 billion for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. On average, analysts predict that Canadian Tire Co. Limited will post 13.638961 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.