Canadian Tire (OTCMKTS:CDNAF) Shares Climb 3.8% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CDNAF. BMO Capital Markets restated a “market perform” rating on shares of Canadian Tire in a research note on Monday, July 20th. Scotiabank reissued a “sector perform” rating on shares of Canadian Tire in a report on Friday, August 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Tire in a report on Monday, August 10th. 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, Canadian Tire presently has an average rating of “Hold” and a consensus target price of $205.00.

Canadian Tire Trading Up 0.1%

The company has a quick ratio of 1.46, a current ratio of 1.88 and a debt-to-equity ratio of 0.91. The business’s fifty day moving average is $137.84 and its two-hundred day moving average is $136.64. The firm has a market cap of $7.14 billion and a price-to-earnings ratio of 18.02.

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

Canadian Tire Company Profile

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.