Canadian Tire (OTCMKTS:CDNAF) Shares Climb 3.8% – Time to Buy?

Canadian Tire Co., Limited (OTCMKTS:CDNAF) shares traded up 3.8% during trading on Wednesday. The company traded as high as $135.4380 and last traded at $135.4380. 1 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 19,308 shares. The stock had previously closed at $130.4975.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CDNAF. BMO Capital Markets restated a “market perform” rating on shares of Canadian Tire in a report on Monday, July 20th. Scotiabank reissued a “sector perform” rating on shares of Canadian Tire in a research note on Friday, August 14th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Tire in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $205.00.

Canadian Tire Price Performance

The business’s fifty day moving average price is $137.84 and its 200-day moving average price is $136.64. The company has a market capitalization of $7.14 billion and a P/E ratio of 18.02. The company has a current ratio of 1.88, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91.

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

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.