Canadian Tire (OTCMKTS:CDNAF) Hits New 12-Month High – Here’s Why

Shares of Canadian Tire Co., Limited (OTCMKTS:CDNAF) reached a new 52-week high during trading on Tuesday. The stock traded as high as $165.78 and last traded at $134.86, with a volume of 40 shares changing hands. The stock had previously closed at $133.1250.

Analysts Set New Price Targets

CDNAF has been the topic of a number of analyst reports. Scotiabank reiterated a “sector perform” rating on shares of Canadian Tire in a research report on Friday, August 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Canadian Tire in a research note on Monday, July 20th. Finally, Royal Bank Of Canada reiterated 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $205.00.

Canadian Tire Trading Down 0.6%

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 firm’s fifty day moving average is $139.96 and its two-hundred day moving average is $136.71. The firm has a market cap of $7.07 billion and a P/E ratio of 17.84.

Canadian Tire (OTCMKTS:CDNAF) last posted its earnings results on Thursday, August 13th. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.78 by $0.07. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations 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 headquartered in Toronto, Ontario. Founded in 1922, the company operates a network of stores across Canada through several retail banners, including Canadian Tire, SportChek, Mark’s and Pro Hockey Life.

Canadian Tire stores offer automotive products and services, hardware, home improvement merchandise, outdoor and recreational equipment, sporting goods, toys, seasonal products and household essentials.