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

Shares of Canadian Tire Co., Limited (OTCMKTS:CDNAF) gapped up before the market opened 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 trading hands.

Analysts Set New Price Targets

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

Canadian Tire Stock Performance

The business’s 50 day simple moving average is $136.72 and its two-hundred day simple moving average is $130.06. The firm has a market capitalization of $6.64 billion and a PE ratio of 39.06. The company has a current ratio of 1.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.84.

Canadian Tire (OTCMKTS:CDNAF) last released 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. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.55 billion. Canadian Tire had a return on equity of 10.65% and a net margin of 3.63%.

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.