Canadian Tire (TSE:CTC.A) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Canadian Tire Co. Limited (TSE:CTC.A) 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 changing hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on CTC.A. Royal Bank of Canada lifted their price target on shares of Canadian Tire from C$188.00 to C$192.00 in a research report on Friday, November 8th. CIBC raised their target price on Canadian Tire from C$160.00 to C$165.00 in a report on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of Canadian Tire from C$121.00 to C$126.00 in a research note on Friday, August 9th. TD Securities raised shares of Canadian Tire from a “hold” rating to a “buy” rating and upped their target price for the stock from C$160.00 to C$175.00 in a research note on Friday, August 9th. Finally, Desjardins raised their price target on shares of Canadian Tire from C$165.00 to C$175.00 in a research 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. Based on data from MarketBeat, Canadian Tire presently has an average rating of “Moderate Buy” and a consensus price target of C$147.89.

Canadian Tire Trading Up 0.9 %

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 stock has a market cap of C$7.98 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 0.35 and a beta of 1.33. The business’s 50 day moving average is C$156.61 and its 200 day moving average is C$146.87.

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.