Canadian Tire (TSE:CTC.A) Shares Pass Above 200-Day Moving Average – Time to Sell?

Canadian Tire Co. Limited (TSE:CTC.A) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$179.28 and traded as high as C$180.00. Canadian Tire shares last traded at C$174.95, with a volume of 265,583 shares changing hands.

Wall Street Analysts Forecast Growth

CTC.A has been the topic of a number of recent research reports. TD dropped their target price on Canadian Tire from C$205.00 to C$200.00 and set a “hold” rating on the stock in a research report on Friday. TD Securities upped their price objective on Canadian Tire from C$194.00 to C$205.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Desjardins lowered their price objective on Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating on the stock in a research report on Friday. National Bank Financial lowered their price objective on Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Royal Bank Of Canada lowered their price objective on Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating on the stock in a research report on Friday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$197.50.

Canadian Tire Stock Down 2.3%

The stock has a market cap of C$9.01 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 0.35 and a beta of 1.17. 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 business has a 50-day moving average price of C$188.62 and a 200-day moving average price of C$179.22.

Canadian Tire (TSE:CTC.A) last announced its earnings results on Thursday, May 14th. The company reported C$2.02 earnings per share (EPS) for the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%.The firm had revenue of C$3.57 billion for the quarter. As a group, analysts forecast that Canadian Tire Co. Limited will post 13.638961 earnings per share for the current year.

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.