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

Shares of Canadian Tire Co. Limited (TSE:CTC.A) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$152.55 and traded as high as C$162.65. Canadian Tire shares last traded at C$159.62, with a volume of 322,191 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTC.A. CIBC boosted their price objective on Canadian Tire from C$160.00 to C$165.00 in a research report on Friday, November 8th. Royal Bank of Canada increased their price objective 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 issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$147.89.

Canadian Tire Trading Down 1.7 %

The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The stock has a market capitalization of C$8.33 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 0.35 and a beta of 1.33. The company has a fifty day moving average of C$154.93 and a two-hundred day moving average of C$152.55.

Insider Transactions at Canadian Tire

In related news, Director Steve Frazier acquired 350 shares of Canadian Tire stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of C$152.56 per share, for a total transaction 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.