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

Canadian Tire Co., Limited (OTCMKTS:CDNAF)’s stock price gapped down prior to trading on Tuesday. The stock had previously closed at $145.83, but opened at $126.90. Canadian Tire shares last traded at $126.90, with a volume of 50 shares trading hands.

Analysts Set New Price Targets

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

Canadian Tire Trading Down 0.2%

The firm has a market cap of $7.60 billion and a PE ratio of 19.17. 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 business has a fifty day moving average price of $137.78 and a 200 day moving average price of $135.95.

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

About Canadian Tire

Canadian Tire Corporation, Limited is a Canadian retail and financial services company headquartered in Toronto, Ontario. Founded in 1922, the company operates primarily in Canada through a network of associate dealer-operated and corporate stores, offering products for automotive, hardware, home, sports and recreation, seasonal activities, and outdoor living.

Its retail banners include Canadian Tire, SportChek, and Mark’s, which provide automotive parts and services, sporting goods and apparel, workwear, footwear, and everyday household and outdoor products.