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

Key Points

• CTC.A crossed above its 200-day moving average, with the 200-day at C$173.98 and the stock trading as high as C$182.93 (last at C$178.39) on volume of 467,500 shares.
• Analysts have raised price targets across the board (TD C$205, National Bank C$211, Desjardins C$203, BMO C$194, Scotiabank C$180), but the consensus rating remains "Hold" with a consensus target of C$192.29.
• On fundamentals, Canadian Tire reported quarterly EPS of C$4.47 and revenue of C$4.55 billion, with a market cap of C$9.45 billion, P/E of 18.45 and a high debt-to-equity ratio of 173.58.

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$173.98 and traded as high as C$182.93. Canadian Tire shares last traded at C$178.39, with a volume of 467,500 shares traded.

Wall Street Analysts Forecast Growth

CTC.A has been the subject of several research reports. TD Securities lifted their target price 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. National Bank Financial lifted their price objective on Canadian Tire from C$201.00 to C$211.00 and gave the stock a "sector perform" rating in a research 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. BMO Capital Markets upped their target price on shares of Canadian Tire from C$180.00 to C$194.00 and gave the company a "market perform" rating in a research report on Friday, February 20th. Finally, Desjardins lifted their price target on shares of Canadian Tire from C$190.00 to C$203.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Tire has a consensus rating of "Hold" and a consensus target price of C$192.29.

Canadian Tire Trading Down 2.6%

The business's fifty day moving average is C$181.82 and its 200-day moving average is C$173.98. 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 firm has a market cap of C$9.45 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 0.35 and a beta of 1.20.

Canadian Tire (TSE:CTC.A - Get Free Report) last posted its 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 firm had revenue of C$4.55 billion for the quarter. 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 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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