Canadian Tire (TSE:CTC.A) Share Price Passes Above 200-Day Moving Average of $154.83

Shares of Canadian Tire Co. Limited (TSE:CTC.A – Get Rating) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$154.83 and traded as high as C$166.31. Canadian Tire shares last traded at C$165.90, with a volume of 259,835 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTC.A. Desjardins boosted their target price on shares of Canadian Tire from C$195.00 to C$205.00 in a research note on Friday, February 17th. Royal Bank of Canada upped their price objective on shares of Canadian Tire from C$222.00 to C$225.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. BMO Capital Markets restated a “buy” rating and issued a C$196.00 price objective (up previously from C$181.00) on shares of Canadian Tire in a research note on Friday, February 17th. Scotiabank upped their price objective on shares of Canadian Tire from C$180.00 to C$196.00 in a research note on Friday, February 17th. Finally, CIBC upped their price objective on shares of Canadian Tire from C$185.00 to C$195.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$203.75.

Canadian Tire Stock Performance

The company has a market cap of C$8.91 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.37 and a beta of 1.26. The stock’s fifty day simple moving average is C$162.87 and its two-hundred day simple moving average is C$154.83. The company has a debt-to-equity ratio of 145.08, a quick ratio of 1.15 and a current ratio of 1.61.

About Canadian Tire

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Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.