Canadian Tire (OTCMKTS:CDNAF) Shares Down 1% – Here’s Why

Canadian Tire Co., Limited (OTCMKTS:CDNAF) shares dropped 1% on Thursday . The stock traded as low as $136.78 and last traded at $136.78. Approximately 132,775 shares traded hands during trading, an increase of 627% from the average daily volume of 18,258 shares. The stock had previously closed at $138.1025.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CDNAF. BMO Capital Markets reiterated a “market perform” rating on shares of Canadian Tire in a research note on Friday, February 20th. Scotiabank upgraded Canadian Tire from an “underperform” rating to a “sector perform” rating in a research note on Friday, February 20th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Canadian Tire in a research note on Friday, February 20th. Finally, TD Securities reissued a “hold” rating and issued a $205.00 price target on shares of Canadian Tire in a report on Friday, February 20th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $205.00.

Canadian Tire Stock Performance

The stock has a 50-day moving average of $132.06 and a 200 day moving average of $125.34.

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.