Canadian Tire (OTCMKTS:CDNAF) Shares Gap Down – Should You Sell?

Canadian Tire Co., Limited (OTCMKTS:CDNAF)’s stock price gapped down prior to trading on Tuesday. The stock had previously closed at $145.83, but opened at $126.90. Canadian Tire shares last traded at $126.90, with a volume of 50 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CDNAF shares. Scotiabank reiterated a “sector perform” rating on shares of Canadian Tire in a report on Friday, August 14th. BMO Capital Markets restated a “market perform” rating on shares of Canadian Tire in a report on Monday, July 20th. Finally, Royal Bank Of Canada reaffirmed 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $205.00.

Canadian Tire Trading Up 0.6%

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.88 and a quick ratio of 1.46. The firm has a market capitalization of $7.60 billion and a PE ratio of 19.17. The business’s 50-day moving average price is $137.82 and its 200-day moving average price is $136.12.

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

About Canadian Tire

Canadian Tire Corporation, Limited is a Canadian retail and financial services company headquartered in Toronto, Ontario. Founded in 1922, the company operates primarily in Canada through a network of associate dealer-operated and corporate stores, offering products for automotive, hardware, home, sports and recreation, seasonal activities, and outdoor living.

Its retail banners include Canadian Tire, SportChek, and Mark’s, which provide automotive parts and services, sporting goods and apparel, workwear, footwear, and everyday household and outdoor products.