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

Canadian Tire Co., Limited (OTCMKTS:CDNAF)’s share price gapped up prior to trading 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.

Analyst Ratings Changes

Several brokerages recently weighed in on CDNAF. Scotiabank raised shares of Canadian Tire from an “underperform” rating to a “sector perform” rating in a research report on Friday, February 20th. TD Securities reaffirmed a “hold” rating and issued a $205.00 price objective on shares of Canadian Tire in a research report on Friday, February 20th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Tire in a research note on Thursday, May 7th. BMO Capital Markets reissued a “market perform” rating on shares of Canadian Tire in a report on Friday. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Canadian Tire in a research note 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. According to MarketBeat.com, Canadian Tire currently has an average rating of “Hold” and an average target price of $205.00.

Canadian Tire Price Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.44. The business’s 50 day moving average price is $137.44 and its 200 day moving average price is $130.01. The stock has a market capitalization of $6.57 billion and a P/E ratio of 38.64.

Canadian Tire (OTCMKTS:CDNAF) last issued its quarterly earnings data on Thursday, May 14th. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.17. Canadian Tire had a net margin of 3.63% and a return on equity of 10.65%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.55 billion.

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.