Canadian Tire (OTCMKTS:CDNAF) Shares Gap Up – Still a Buy?

Shares of Canadian Tire Co., Limited (OTCMKTS:CDNAF) 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 commented on CDNAF shares. BMO Capital Markets reissued a “market perform” rating on shares of Canadian Tire in a research report on Monday, July 20th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Canadian Tire in a research report on Monday, August 10th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Canadian Tire in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $205.00.

Canadian Tire Trading Up 0.1%

The company’s fifty day simple moving average is $137.61 and its two-hundred day simple moving average is $136.65. The company has a quick ratio of 1.46, a current ratio of 1.88 and a debt-to-equity ratio of 0.91.

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

About Canadian Tire

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.