Canadian Tire (TSE:CTC) Share Price Crosses Below 50 Day Moving Average - What's Next?

Canadian Tire Co., Limited (TSE:CTC - Get Free Report) passed 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTC. Scotiabank set a C$140.00 price target on Canadian Tire and gave the company an "underperform" rating in a report on Friday, February 7th. BMO Capital Markets upgraded shares of Canadian Tire from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 20th.

Canadian Tire Stock Performance

The firm has a market capitalization of C$7.98 billion, a PE ratio of 11.97, a P/E/G ratio of 0.49 and a beta of 1.33. The firm has a 50 day simple moving average of C$224.80 and a 200 day simple moving average of C$223.25. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 150.68.

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.