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

Canadian Tire Co. Limited (TSE:CTC.A)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$173.38 and traded as high as C$188.73. Canadian Tire shares last traded at C$186.39, with a volume of 288,247 shares traded.

Analyst Upgrades and Downgrades

CTC.A has been the topic of a number of recent analyst reports. 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 note on Friday, February 20th. Desjardins upped their price objective on Canadian Tire from C$190.00 to C$203.00 and gave the stock a “buy” rating in a report on Friday, February 20th. BMO Capital Markets boosted their target price on Canadian Tire from C$180.00 to C$194.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Scotiabank upgraded Canadian Tire from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from C$160.00 to C$180.00 in a report on Friday, February 20th. Finally, TD Securities raised their price objective on shares of Canadian Tire from C$194.00 to C$205.00 and gave the stock a “hold” rating in a report on Friday, February 20th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$192.29.

Canadian Tire Stock Up 0.2%

The firm’s 50 day simple moving average is C$180.90 and its 200-day simple moving average is C$173.50. 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$9.89 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 0.35 and a beta of 1.20.

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.