Canadian Tire (TSE:CTC.A) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Canadian Tire shares crossed above their 200-day moving average, reaching C$200.00 before closing at C$194.30 on trading volume of 390,814 shares.
• Analyst views remain mixed: three analysts rate the stock a Buy and six rate it a Hold, producing a consensus “Hold” rating and an average price target of C$204.00.
• The company has a C$10.13 billion market capitalization, a P/E ratio of 15.37, and relatively high leverage, with a debt-to-equity ratio of 173.58.

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$189.46 and traded as high as C$200.00. Canadian Tire shares last traded at C$194.30, with a volume of 390,814 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have commented on CTC.A shares. BMO Capital Markets decreased their price objective on Canadian Tire from C$194.00 to C$185.00 and set a "market perform" rating for the company in a report on Friday, May 15th. Jefferies Financial Group lifted their target price on Canadian Tire from C$179.00 to C$199.00 in a research report on Friday, August 14th. Royal Bank Of Canada lifted their target price 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. TD upped their price target on 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, Desjardins increased their price target on Canadian Tire from C$200.00 to C$217.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of C$204.00.

Canadian Tire Stock Down 2.6%

The stock has a 50 day moving average price of C$197.01 and a 200 day moving average price of C$189.46. 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 company has a market capitalization of C$10.13 billion, a P/E ratio of 15.37, a PEG ratio of 0.35 and a beta of 1.04.

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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