Canadian Tire (TSE:CTC) Share Price Crosses Below 50 Day Moving Average – Should You Sell?

Canadian Tire Co., Limited (TSE:CTC)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$253.51 and traded as low as C$245.00. Canadian Tire shares last traded at C$245.00, with a volume of 229 shares changing hands.

Wall Street Analyst Weigh In

CTC has been the topic of several recent research reports. BMO Capital Markets lowered shares of Canadian Tire from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. TD Securities lowered shares of Canadian Tire from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 8th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of C$140.00.

Canadian Tire Stock Performance

The firm’s 50 day moving average price is C$253.51 and its 200-day moving average price is C$237.16. The company has a debt-to-equity ratio of 150.68, a quick ratio of 1.15 and a current ratio of 1.60. The firm has a market capitalization of C$13.25 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 0.49 and a beta of 0.68.

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.