Canadian Tire (TSE:CTC) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Shares of Canadian Tire Co., Limited (TSE:CTC) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$223.30 and traded as low as C$223.00. Canadian Tire shares last traded at C$224.00, with a volume of 635 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CTC. Scotiabank set a C$140.00 price objective on shares of Canadian Tire and gave the stock an “underperform” rating in a research report on Friday, February 7th. Royal Bank of Canada lowered shares of Canadian Tire from a “moderate buy” rating to a “hold” rating in a report on Friday, November 8th.

Canadian Tire Price Performance

The company has a market cap of C$8.57 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 0.49 and a beta of 1.33. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 150.68. The firm’s fifty day moving average price is C$217.92 and its 200-day moving average price is C$223.25.

About Canadian Tire

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. It operates in three segments: Retail, CT REIT, and Financial Services. The Retail segment retails automotive maintenance products and accessories, parts, and tires, as well as automotive services and roadside assistance; electrical, hardware, home environment, paint, plumbing, and tool products; cleaning, food & drink, home décor, home essentials, home organization, kitchen, and pet care products; camping, exercise, hockey, hunting, fishing, seasonal recreation, and team sports and golf products; and backyard living, backyard fun, cycling, gardening, outdoor tools, seasonal, and toy products.