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

Canadian Tire Co., Limited (OTCMKTS:CDNAF – Get Free Report) shares 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

Several equities research analysts have issued reports on CDNAF shares. BMO Capital Markets restated a “market perform” rating on shares of Canadian Tire in a report on Monday, July 20th. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Tire in a research report on Friday, August 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Tire in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $205.00.

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Canadian Tire Stock Up 3.2%

The company has a current ratio of 1.88, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average of $138.05 and a 200 day moving average of $136.62. The stock has a market capitalization of $7.09 billion and a price-to-earnings ratio of 17.89.

Canadian Tire (OTCMKTS:CDNAF – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.07. Canadian Tire had a return on equity of 10.84% and a net margin of 4.09%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.03 billion.

Canadian Tire Company Profile

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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.

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