Canadian Tire (OTCMKTS:CDNAF) Stock Price Down 1.4% – Should You Sell?

Shares of Canadian Tire Co., Limited (OTCMKTS:CDNAF) were down 1.4% on Wednesday . The company traded as low as $130.47 and last traded at $130.47. Approximately 13,503 shares changed hands during mid-day trading, an increase of 59% from the average daily volume of 8,478 shares. The stock had previously closed at $132.27.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reissued an “underperform” rating on shares of Canadian Tire in a research note on Thursday, January 15th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Canadian Tire presently has a consensus rating of “Reduce”.

Canadian Tire Stock Down 1.4%

The business has a 50 day simple moving average of $125.97 and a 200-day simple moving average of $123.41.

About Canadian Tire

Canadian Tire Corporation, Limited is a diversified Canadian retail company founded in Toronto in 1922 by John William Billes and Alfred Jackson Billes. Headquartered in Toronto, Ontario, the company operates a network of retail stores, digital channels and petroleum outlets across Canada. Through its integrated business model, Canadian Tire serves both urban and rural markets with a broad selection of products and services.

The company’s retail segment comprises its flagship Canadian Tire stores and branded gas bars, offering automotive parts and maintenance services, hardware and home improvement supplies, sports and leisure equipment, and seasonal merchandise.