Canadian Tire (TSE:CTC) Stock Price Passes Below 50 Day Moving Average – Time to Sell?

Canadian Tire Co., Limited (TSE:CTC) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$225.41 and traded as low as C$215.01. Canadian Tire shares last traded at C$215.25, with a volume of 498 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTC. BMO Capital Markets raised Canadian Tire from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 20th. Scotiabank set a C$140.00 price target on shares of Canadian Tire and gave the stock an “underperform” rating in a report on Friday, February 7th.

Canadian Tire Stock Down 3.1 %

The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 150.68. The stock’s 50-day simple moving average is C$225.07 and its 200 day simple moving average is C$223.45. The firm has a market cap of C$7.98 billion, a P/E ratio of 11.97, a PEG ratio of 0.49 and a beta of 1.33.

Canadian Tire Company Profile

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.