Canadian Tire (TSE:CTC.A) Stock Crosses Above 200 Day Moving Average - What's Next?

Shares of Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$178.44 and traded as high as C$189.39. Canadian Tire shares last traded at C$188.91, with a volume of 254,223 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTC.A. National Bank Financial increased their price objective on Canadian Tire from C$201.00 to C$211.00 and gave the company a "sector perform" rating in a research report on Friday, February 20th. TD Securities upped their price target on Canadian Tire from C$194.00 to C$205.00 and gave the company a "hold" rating in a research note on Friday, February 20th. BMO Capital Markets raised their price target on Canadian Tire from C$180.00 to C$194.00 and gave the company a "market perform" rating in a report on Friday, February 20th. Scotiabank raised Canadian Tire from an "underperform" rating to a "sector perform" rating and boosted their price objective for the stock from C$160.00 to C$180.00 in a report on Friday, February 20th. Finally, Desjardins upped their target price on shares of Canadian Tire from C$190.00 to C$203.00 and gave the company a "buy" rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$192.29.

Canadian Tire Stock Down 0.0%

The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. The stock has a market capitalization of C$9.96 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 0.35 and a beta of 1.09. The firm's fifty day simple moving average is C$189.88 and its 200 day simple moving average is C$178.44.

Canadian Tire (TSE:CTC.A - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported C$4.47 earnings per share for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The company had revenue of C$4.55 billion during the quarter. On average, sell-side analysts forecast that Canadian Tire Co. Limited will post 13.638961 earnings per share for the current year.

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. 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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