Canadian Tire (TSE:CTC.A) Shares Cross Above 200 Day Moving Average – Here’s Why

Canadian Tire Co. Limited (TSE:CTC.A)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$149.52 and traded as high as C$154.17. Canadian Tire shares last traded at C$153.44, with a volume of 89,145 shares changing hands.

Analyst Ratings Changes

CTC.A has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Canadian Tire from C$188.00 to C$192.00 in a research note on Friday, November 8th. CIBC lifted their price target on Canadian Tire from C$160.00 to C$165.00 in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$147.89.

Canadian Tire Price Performance

The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. The business has a 50 day moving average of C$154.13 and a 200 day moving average of C$149.54. The company has a market cap of C$8.01 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33.

Insiders Place Their Bets

In related news, Director Steve Frazier bought 350 shares of the stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of C$152.56 per share, with a total value of C$53,397.68. Company insiders own 1.90% of the company’s stock.

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.