Canadian Tire (TSE:CTC.A) Stock Crosses Above 200-Day Moving Average of $139.75

Canadian Tire Co. Limited (TSE:CTC.A) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$139.75 and traded as high as C$157.80. Canadian Tire shares last traded at C$157.24, with a volume of 186,282 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. CIBC raised their price target on Canadian Tire from C$153.00 to C$160.00 in a report on Friday, August 9th. Desjardins lifted their target price on Canadian Tire from C$165.00 to C$175.00 in a research report on Friday, August 9th. TD Securities raised Canadian Tire from a “hold” rating to a “buy” rating and lifted their target price for the company from C$160.00 to C$175.00 in a research report on Friday, August 9th. Jefferies Financial Group boosted their price target on Canadian Tire from C$121.00 to C$126.00 in a research report on Friday, August 9th. Finally, National Bankshares boosted their price target on Canadian Tire from C$146.00 to C$158.00 in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$147.11.

Canadian Tire Stock Up 1.6 %

The business has a fifty day simple moving average of C$146.74 and a 200 day simple moving average of C$139.75. The firm has a market cap of C$8.21 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 0.35 and a beta of 1.33. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15.

About Canadian Tire

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.