Carrefour (OTCMKTS:CRRFY) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Carrefour SA (OTCMKTS:CRRFY)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $3.68 and traded as low as $3.68. Carrefour shares last traded at $3.71, with a volume of 137,263 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group upgraded shares of Carrefour from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Royal Bank Of Canada started coverage on shares of Carrefour in a report on Monday, July 6th. They issued a “moderate buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Carrefour Stock Up 0.8%

The company has a debt-to-equity ratio of 0.83, a current ratio of 0.87 and a quick ratio of 0.63. The company has a 50 day simple moving average of $3.68 and a 200-day simple moving average of $3.73.

Carrefour Company Profile

Carrefour is a French multinational retail corporation established in 1959 and headquartered in Boulogne-Billancourt, France. As one of the world’s largest retail chains, the company pioneered the hypermarket concept in Europe, combining a supermarket and department store under one roof. Over the decades, Carrefour has expanded its footprint to encompass a variety of store formats, including hypermarkets, supermarkets, cash & carry outlets, convenience stores and e-commerce platforms, catering to a wide range of consumer needs.

Carrefour’s core business activities revolve around food retailing, non-food products and services.