Canadian Tire (TSE:CTC.A) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Canadian Tire Co. Limited (TSE:CTC.A) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$151.29 and traded as high as C$162.34. Canadian Tire shares last traded at C$162.18, with a volume of 425,680 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTC.A. CIBC upped their price objective on shares of Canadian Tire from C$160.00 to C$165.00 in a research note on Friday, November 8th. Royal Bank of Canada raised their target price on shares of Canadian Tire from C$188.00 to C$192.00 in a research report on Friday, November 8th. Four equities research 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 currently has an average rating of “Moderate Buy” and a consensus target price of C$147.89.

Canadian Tire Stock Performance

The company’s 50 day moving average is C$153.53 and its 200 day moving average is C$151.29. The firm has a market cap of C$8.47 billion, a P/E ratio of 23.68, 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.

Insider Buying and Selling at Canadian Tire

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

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.