BMO Capital Sticks to Their Hold Rating for Canadian Tire (CDNAF)

By Austin Angelo

BMO Capital analyst Peter Sklar maintained a Hold rating on Canadian Tire (CDNAFResearch Report) today and set a price target of C$105.00. The company’s shares closed last Monday at $63.53.

According to TipRanks.com, Sklar is ranked #1925 out of 6169 analysts.

Canadian Tire has an analyst consensus of Moderate Buy, with a price target consensus of $116.78.

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Based on Canadian Tire’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.64 billion and net profit of $197 million. In comparison, last year the company earned revenue of $3.63 billion and had a net profit of $204 million.

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Canadian Tire sells home goods, sporting equipment, apparel, footwear, automotive parts and accessories, and vehicle fuel through a 1,700-store network of company, dealer, and franchisee-operated locations across Canada. Aside from the namesake banner, stores operate primarily under the Mark’s, SportChek, Atmosphere, and PartSource monikers. The company acquired Helly Hansen, a Norwegian sportswear and workwear brand, in 2018. The firm also operates and holds majority ownership of a financing arm (Canadian Tire Financial Services; 20% owned by Scotiabank) and a REIT (CT REIT; Canadian Tire owns about 70% of the unit).