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

Key Points

• Canadian Tire shares crossed above their 200-day moving average, reaching C$194.30 before trading at C$192.68, with volume of 260,311 shares.
• Analysts mostly raised their price targets, including RBC to C$230 and Desjardins to C$217. Despite three buy ratings and six holds, the overall consensus remains “Hold” with a C$204 target price.
• The company has a market capitalization of approximately C$10.05 billion, a price-to-earnings ratio of 15.24, and a debt-to-equity ratio of 173.58.

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$190.48 and traded as high as C$194.30. Canadian Tire shares last traded at C$192.68, with a volume of 260,311 shares.

Analyst Ratings Changes

CTC.A has been the subject of several analyst reports. Desjardins raised their target price on Canadian Tire from C$200.00 to C$217.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada upped their price target on Canadian Tire from C$218.00 to C$230.00 and gave the company an "outperform" rating in a research report on Sunday, August 16th. Stifel Nicolaus upped their price target on Canadian Tire from C$115.00 to C$220.00 and gave the company a "buy" rating in a research report on Friday, August 14th. TD increased their price target on shares of Canadian Tire from C$200.00 to C$210.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Finally, Scotia raised their price objective on shares of Canadian Tire from C$180.00 to C$200.00 and gave the company a "sector perform" rating in a research report on Friday, August 14th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of C$204.00.

Canadian Tire Trading Up 0.1%

The stock has a market cap of C$10.05 billion, a PE ratio of 15.24, a PEG ratio of 0.35 and a beta of 0.75. 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 firm has a fifty day simple moving average of C$192.84 and a two-hundred day simple moving average of C$190.48.

About Canadian Tire

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.

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