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

Shares of Canadian Tire Co., Limited (TSE:CTC) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$251.26 and traded as low as C$240.00. Canadian Tire shares last traded at C$240.00, with a volume of 115 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTC. TD Securities cut Canadian Tire from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. BMO Capital Markets downgraded shares of Canadian Tire from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of C$140.00.

Canadian Tire Stock Performance

The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 150.68. The firm has a 50-day moving average of C$251.26 and a 200 day moving average of C$250.48. The stock has a market capitalization of C$12.82 billion, a P/E ratio of 18.21, a PEG ratio of 0.49 and a beta of 0.63.

Canadian Tire (TSE:CTC) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$3.13 earnings per share (EPS) for the quarter. The firm had revenue of C$4.11 billion for the quarter. Canadian Tire had a net margin of 3.98% and a return on equity of 11.54%. Research analysts anticipate that Canadian Tire Co., Limited will post 13.6961722 EPS for the current fiscal year.

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.