Canadian Tire (TSE:CTC) Shares Cross Below 50-Day Moving Average – Time to Sell?

Canadian Tire Co., Limited (TSE:CTC) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$217.50 and traded as low as C$207.00. Canadian Tire shares last traded at C$207.00, with a volume of 1,274 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upgraded shares of Canadian Tire from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Canadian Tire Stock Down 0.4%

The company has a market capitalization of C$10.85 billion, a PE ratio of 18.71, a PEG ratio of 0.49 and a beta of 0.69. The company has a debt-to-equity ratio of 133.63, a quick ratio of 1.15 and a current ratio of 1.74. The stock’s 50 day moving average is C$217.33 and its 200 day moving average is C$221.18.

About Canadian Tire

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or ‘CTC’, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.