Canadian Tire (TSE:CTC) Shares Cross Below 50-Day Moving Average – Here’s Why

Canadian Tire Co., Limited (TSE:CTC)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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 report on Friday, February 20th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Canadian Tire currently has an average rating of “Hold”.

Canadian Tire Stock Performance

The stock’s 50 day moving average price is C$217.50 and its 200 day moving average price is C$221.70. The company has a current ratio of 1.74, a quick ratio of 1.15 and a debt-to-equity ratio of 133.63. The company has a market cap of C$10.89 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 0.49 and a beta of 0.52.

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.