Canadian Tire (OTCMKTS:CDNAF) Shares Up 0.5% – Time to Buy?

Canadian Tire Co., Limited (OTCMKTS:CDNAF) shares shot up 0.5% during mid-day trading on Wednesday . The stock traded as high as $140.2675 and last traded at $140.2675. 3,962 shares traded hands during trading, a decline of 70% from the average daily volume of 13,141 shares. The stock had previously closed at $139.57.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Tire in a research note on Thursday, May 7th. BMO Capital Markets restated a “market perform” rating on shares of Canadian Tire in a research note on Monday. One equities 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.com, the company presently has an average rating of “Hold” and a consensus price target of $205.00.

Canadian Tire Price Performance

The company has a 50 day moving average of $132.77 and a two-hundred day moving average of $133.89. The firm has a market cap of $7.38 billion and a P/E ratio of 29.97. The company has a quick ratio of 1.33, a current ratio of 1.74 and a debt-to-equity ratio of 0.83.

Canadian Tire (OTCMKTS:CDNAF) last posted its quarterly earnings results on Thursday, May 14th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.17. Canadian Tire had a return on equity of 10.63% and a net margin of 3.63%.The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.55 billion.

Canadian Tire Company Profile

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.