Canadian Tire (TSE:CTC) Shares Cross Above Fifty Day Moving Average - Should You Sell?

Key Points

• Canadian Tire shares moved above their 50-day moving average, trading as high as C$231.01 versus a 50-day average of C$218.35.
• Scotiabank upgraded the stock from “strong sell” to “hold,” and MarketBeat notes the overall analyst consensus is now also “Hold.”
• The company recently reported quarterly EPS of C$4.47 on revenue of C$4.55 billion, with analysts forecasting full-year EPS of about 13.70.

Canadian Tire Co., Limited (TSE:CTC - Get Free Report) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$218.35 and traded as high as C$231.01. Canadian Tire shares last traded at C$231.01, with a volume of 324 shares traded.

Wall Street Analyst Weigh In

Separately, Scotiabank upgraded shares of Canadian Tire from a "strong sell" rating to a "hold" rating in a research note on Friday, February 20th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Canadian Tire presently has an average rating of "Hold".

Canadian Tire Stock Performance

The stock has a market capitalization of C$12.18 billion, a P/E ratio of 23.89, a P/E/G ratio of 0.49 and a beta of 0.52. The stock has a 50 day simple moving average of C$218.35 and a two-hundred day simple moving average of C$225.15. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 166.61.

Canadian Tire (TSE:CTC - Get Free Report) last announced its quarterly earnings data 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 8.99% and a net margin of 3.24%.The company had revenue of C$4.55 billion for the quarter. On average, equities analysts forecast that Canadian Tire Co., Limited will post 13.6961722 EPS for the current fiscal 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.

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