Canadian Tire (TSE:CTC.A) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Canadian Tire shares rose above their 200-day moving average, reaching C$193.27 and closing at C$192.59, compared with the moving average of C$190.08.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and six rate it a Hold, producing an overall “Hold” rating and an average price target of C$204.00.
• Recent analyst targets range from C$199 to C$230, while Canadian Tire has a C$10.04 billion market capitalization and trades at a P/E ratio of 15.24.

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$190.08 and traded as high as C$193.27. Canadian Tire shares last traded at C$192.59, with a volume of 350,542 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Canadian Tire from C$115.00 to C$220.00 and gave the company a "buy" rating in a report on Friday, August 14th. National Bank Financial cut their price objective on Canadian Tire from C$210.00 to C$209.00 and set a "sector perform" rating for the company in a research report on Friday, August 14th. Royal Bank Of Canada boosted their price objective on Canadian Tire from C$218.00 to C$230.00 and gave the stock an "outperform" rating in a research report on Sunday, August 16th. Jefferies Financial Group increased their target price on Canadian Tire from C$179.00 to C$199.00 in a research note on Friday, August 14th. Finally, Desjardins raised their target price on Canadian Tire from C$200.00 to C$217.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Three research 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.com, the company presently has an average rating of "Hold" and an average target price of C$204.00.

Canadian Tire Trading Up 1.2%

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 stock has a market capitalization of C$10.04 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.35 and a beta of 0.87. The business's fifty day simple moving average is C$194.77 and its two-hundred day simple moving average is C$190.08.

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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