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

Key Points

• Canadian Tire's stock price surpassed its 200-day moving average during trading, reaching a high of C$172.06 and last trading at C$171.69.
• Analyst ratings vary, with two analysts recommending a Buy rating, four a Hold rating, and one a Sell rating, establishing a consensus target price of C$173.22.
• The company has a current market cap of C$8.96 billion with notable financial ratios including a P/E ratio of 25.06 and a debt-to-equity ratio of 173.58.

Shares of Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$163.82 and traded as high as C$172.06. Canadian Tire shares last traded at C$171.69, with a volume of 127,901 shares traded.

Wall Street Analysts Forecast Growth

CTC.A has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Canadian Tire from C$140.00 to C$164.00 in a research report on Friday, May 9th. BMO Capital Markets lowered Canadian Tire from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from C$191.00 to C$175.00 in a research report on Friday, August 8th. Scotiabank lifted their price objective on Canadian Tire from C$145.00 to C$150.00 and gave the stock an "underperform" rating in a research report on Friday, August 8th. Desjardins lifted their price objective on Canadian Tire from C$175.00 to C$195.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, National Bankshares lowered their price objective on Canadian Tire from C$204.00 to C$190.00 and set a "sector perform" rating for the company in a research report on Friday, August 8th. Two 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$173.22.

Canadian Tire Price Performance

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 capitalization of C$9.03 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.35 and a beta of 1.20. The business has a fifty day moving average of C$179.79 and a two-hundred day moving average of C$164.38.

Insider Buying and Selling

In other news, Director Steve Frazier acquired 450 shares of the firm's stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of C$178.77 per share, with a total value of C$80,447.09. 1.90% of the stock is currently owned by corporate insiders.

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.