Canadian Tire (TSE:CTC) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Canadian Tire Co., Limited (TSE:CTC) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$251.74 and traded as low as C$242.25. Canadian Tire shares last traded at C$242.25, with a volume of 147 shares traded.

Analyst Ratings Changes

CTC has been the subject of several research reports. BMO Capital Markets downgraded Canadian Tire from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. TD Securities cut Canadian Tire from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of C$140.00.

Canadian Tire Price Performance

The company has a fifty day simple moving average of C$251.74 and a two-hundred day simple moving average of C$249.33. 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 company has a market capitalization of C$13.10 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 0.49 and a beta of 0.63.

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.