Canadian Tire (TSE:CTC) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Canadian Tire Co., Limited (TSE:CTC)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty 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 changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTC. TD Securities downgraded Canadian Tire from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 8th. BMO Capital Markets downgraded 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 assigned a Sell rating to the company. Based on data from MarketBeat, Canadian Tire presently has a consensus rating of “Reduce” and a consensus price target of C$140.00.

Canadian Tire Price Performance

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’s fifty day moving average price is C$251.74 and its 200 day moving average price is C$249.14. The firm has a market capitalization of C$13.10 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 0.49 and a beta of 0.63.

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.