Canadian Tire (OTCMKTS:CDNAF) Shares Gap Up – Here’s Why

Shares of Canadian Tire Co., Limited (OTCMKTS:CDNAF) gapped up prior to trading on Tuesday. The stock had previously closed at $130.4975, but opened at $135.55. Canadian Tire shares last traded at $135.57, with a volume of 200 shares trading hands.

Wall Street Analyst Weigh In

CDNAF has been the subject of several recent analyst reports. BMO Capital Markets restated a “market perform” rating on shares of Canadian Tire in a research report on Monday, July 20th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Canadian Tire in a report on Monday, August 10th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Tire in a report on Friday, August 14th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $205.00.

Canadian Tire Price Performance

The company has a quick ratio of 1.46, a current ratio of 1.88 and a debt-to-equity ratio of 0.91. The stock’s 50-day moving average is $138.05 and its 200-day moving average is $136.62. The firm has a market cap of $7.09 billion and a P/E ratio of 17.89.

Canadian Tire (OTCMKTS:CDNAF) last issued its quarterly earnings data on Thursday, August 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.07. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Canadian Tire had a return on equity of 10.84% and a net margin of 4.09%.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited is a Canadian retail and financial services company founded in 1922. Its flagship Canadian Tire banner sells automotive products and services, hardware, home improvement and household goods, sporting and outdoor equipment, leisure products, and seasonal merchandise through a nationwide network of stores.

The company also operates or owns several specialty retail businesses, including SportChek, Mark’s, and Party City Canada. SportChek focuses on sporting goods, apparel, and footwear, while Mark’s offers workwear, casual clothing, and footwear.