Canadian Tire (OTCMKTS:CDNAF) Shares Gap Up – What’s Next?

Shares of Canadian Tire Co., Limited (OTCMKTS:CDNAF) gapped up prior to trading on Monday . The stock had previously closed at $127.4095, but opened at $140.0550. Canadian Tire shares last traded at $140.0550, with a volume of 1 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on CDNAF. BMO Capital Markets reaffirmed a “market perform” rating on shares of Canadian Tire in a research report on Friday. Scotiabank upgraded shares of Canadian Tire from an “underperform” rating to a “sector perform” rating in a research report on Friday, February 20th. TD Securities reaffirmed a “hold” rating and issued a $205.00 target price on shares of Canadian Tire in a report on Friday, February 20th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Tire in a research report on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Canadian Tire in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $205.00.

Canadian Tire Stock Performance

The company has a market cap of $6.57 billion and a PE ratio of 38.64. The company has a current ratio of 1.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $137.44 and its two-hundred day moving average is $130.01.

Canadian Tire (OTCMKTS:CDNAF) last issued its quarterly earnings results on Thursday, May 14th. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.17. Canadian Tire had a return on equity of 10.65% and a net margin of 3.63%.The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.55 billion.

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.