Canadian Tire (TSE:CTC) Stock Passes Below 50 Day Moving Average – Time to Sell?

Canadian Tire Co., Limited (TSE:CTC) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$219.10 and traded as low as C$216.00. Canadian Tire shares last traded at C$216.00, with a volume of 271 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank raised Canadian Tire from a “strong sell” rating to a “hold” rating in a research report on Friday. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Canadian Tire presently has a consensus rating of “Hold”.

Canadian Tire Stock Performance

The firm has a market cap of C$11.54 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 0.49 and a beta of 0.39. 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 has a fifty day simple moving average of C$219.10 and a two-hundred day simple moving average of C$237.10.

Canadian Tire (TSE:CTC) last issued its earnings results on Thursday, February 19th. The company reported C$4.47 earnings per share (EPS) for the quarter. Canadian Tire had a return on equity of 11.54% and a net margin of 3.98%.The company had revenue of C$4.55 billion during the quarter. On average, analysts expect that Canadian Tire Co., Limited will post 13.6961722 EPS for the current year.

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.