Canadian Tire (TSE:CTC) Shares Cross Above 50-Day Moving Average – Time to Sell?

Canadian Tire Co., Limited (TSE:CTC)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$212.71 and traded as high as C$220.95. Canadian Tire shares last traded at C$220.95, with a volume of 445 shares changing hands.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upgraded shares of Canadian Tire to a “strong-buy” rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Canadian Tire Stock Performance

The stock’s 50 day moving average price is C$212.71 and its 200 day moving average price is C$216.03. The company has a current ratio of 1.74, a quick ratio of 1.15 and a debt-to-equity ratio of 133.63. The company has a market capitalization of C$11.62 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 0.49 and a beta of 0.69.

Canadian Tire (TSE:CTC) last released 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 10.24% and a net margin of 3.65%.The business had revenue of C$3.57 billion for the quarter. Analysts expect that Canadian Tire Co., Limited will post 13.6961722 earnings per share for the current year.

About Canadian Tire

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.