Canadian Tire (TSE:CTC.A) Stock Passes Above 200 Day Moving Average - What's Next?

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Analysts Set New Price Targets

Several research firms recently commented on CTC.A. Royal Bank of Canada upped their target price on shares of Canadian Tire from C$188.00 to C$192.00 in a research note on Friday, November 8th. TD Securities upgraded shares of Canadian Tire from a "hold" rating to a "buy" rating and increased their target price for the company from C$160.00 to C$175.00 in a research note 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 note on Friday, August 9th. National Bankshares raised their price objective on Canadian Tire from C$146.00 to C$158.00 in a research report on Friday, August 9th. Finally, Desjardins boosted their price objective on Canadian Tire from C$165.00 to C$175.00 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 stock. According to data from MarketBeat, Canadian Tire currently has an average rating of "Moderate Buy" and a consensus price target of C$147.89.

Canadian Tire Price Performance

The company has a 50-day moving average of C$156.61 and a 200 day moving average of C$146.87. The firm has a market cap of C$7.98 billion, a P/E 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.