Canadian Tire (TSE:CTC.A) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$143.06 and traded as high as C$159.31. Canadian Tire shares last traded at C$158.70, with a volume of 88,834 shares traded.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTC.A. Jefferies Financial Group boosted their target price on shares of Canadian Tire from C$121.00 to C$126.00 in a research note on Friday, August 9th. Desjardins raised their target price on Canadian Tire from C$165.00 to C$175.00 in a research report on Friday, August 9th. CIBC upped their price target on shares of Canadian Tire from C$153.00 to C$160.00 in a research report on Friday, August 9th. TD Securities raised shares of Canadian Tire from a "hold" rating to a "buy" rating and raised their price objective for the stock from C$160.00 to C$175.00 in a report on Friday, August 9th. Finally, National Bankshares upped their target price on shares of Canadian Tire from C$146.00 to C$158.00 in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$147.11.

View Our Latest Stock Report on CTC.A

Canadian Tire Price Performance

The firm has a market capitalization of C$8.22 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The firm has a 50 day moving average price of C$154.26 and a 200-day moving average price of C$143.06.

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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.

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