Canadian Tire (TSE:CTC) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Canadian Tire Co., Limited (TSE:CTC)’s share price 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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. BMO Capital Markets raised Canadian Tire from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 20th.

Canadian Tire Price Performance

The stock has a market cap of C$8.24 billion, a PE ratio of 12.36, a P/E/G ratio of 0.49 and a beta of 1.33. The company has a debt-to-equity ratio of 150.68, a current ratio of 1.60 and a quick ratio of 1.15. The firm’s 50 day moving average price is C$225.41 and its two-hundred day moving average price is C$223.61.

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.