Canadian Tire (TSE:CTC.A) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Canadian Tire Co. Limited (TSE:CTC.A) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$146.87 and traded as high as C$153.00. Canadian Tire shares last traded at C$152.95, with a volume of 189,007 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Securities raised Canadian Tire from a “hold” rating to a “buy” rating and raised their price target for the stock from C$160.00 to C$175.00 in a research note on Friday, August 9th. Royal Bank of Canada raised their price target on Canadian Tire from C$188.00 to C$192.00 in a research note on Friday, November 8th. CIBC raised their price target on Canadian Tire from C$160.00 to C$165.00 in a research note on Friday, November 8th. Jefferies Financial Group raised their price target on Canadian Tire from C$121.00 to C$126.00 in a research note on Friday, August 9th. Finally, National Bankshares raised their price target on Canadian Tire from C$146.00 to C$158.00 in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$147.89.

Canadian Tire Price Performance

The firm has a fifty day simple moving average of C$156.61 and a 200 day simple moving average of C$146.87. The company has a market capitalization of C$7.98 billion, a PE ratio of 22.33, a P/E/G ratio of 0.35 and a beta of 1.33. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79.

Canadian Tire Company Profile

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.