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

Shares of Canadian Tire Co., Limited (OTCMKTS:CDNAF) gapped down prior to trading on Wednesday . The stock had previously closed at $138.20, but opened at $124.30. Canadian Tire shares last traded at $138.27, with a volume of 31 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CDNAF. Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Tire in a report on Thursday, May 7th. BMO Capital Markets reiterated a “market perform” rating on shares of Canadian Tire in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $205.00.

Canadian Tire Stock Performance

The stock has a market capitalization of $7.23 billion and a PE ratio of 29.35. The firm has a 50-day moving average price of $132.84 and a 200-day moving average price of $132.60. The company has a current ratio of 1.74, a quick ratio of 1.33 and a debt-to-equity ratio of 0.83.

Canadian Tire (OTCMKTS:CDNAF) last released its earnings results on Thursday, May 14th. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.17. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Canadian Tire had a return on equity of 10.63% and a net margin of 3.63%.

Canadian Tire Company Profile

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.