Canadian Tire (TSE:CTC.A) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Shares of Canadian Tire (TSE:CTC.A) crossed above its 200-day moving average of C$165.73, reaching a high of C$172.82 during trading, currently trading at C$171.93.
• Analysts have recently adjusted their price targets, with BMO Capital Markets lowering their rating to "market perform" and a price target of C$175.00, while Desjardins raised theirs to a "buy" with a target of C$195.00.
• The stock currently has a consensus rating of "Hold" from analysts, with a consensus target price of C$173.22.

Shares of Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$165.73 and traded as high as C$172.82. Canadian Tire shares last traded at C$171.93, with a volume of 111,301 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CTC.A shares. BMO Capital Markets lowered shares of Canadian Tire from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from C$191.00 to C$175.00 in a report on Friday, August 8th. Scotiabank increased their price objective on shares of Canadian Tire from C$145.00 to C$150.00 and gave the stock an "underperform" rating in a report on Friday, August 8th. Desjardins increased their price objective on shares of Canadian Tire from C$175.00 to C$195.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. TD Securities lowered shares of Canadian Tire from a "buy" rating to a "hold" rating and cut their price objective for the stock from C$201.00 to C$184.00 in a report on Friday, August 8th. Finally, National Bankshares reduced their price target on shares of Canadian Tire from C$204.00 to C$190.00 and set a "sector perform" rating on the stock in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$173.22.

Canadian Tire Trading Down 0.2%

The company has a fifty day simple moving average of C$177.58 and a 200-day simple moving average of C$165.73. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The stock has a market cap of C$9.30 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 0.35 and a beta of 1.09.

Canadian Tire Company Profile

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.

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