Parkland (TSE:PKI) Price Target Cut to C$49.00

Parkland (TSE:PKI) had its price target lowered by analysts at Royal Bank of Canada from C$50.00 to C$49.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s price target points to a potential upside of 28.44% from the stock’s current price.

A number of other equities analysts have also issued reports on PKI. CIBC decreased their price target on Parkland from C$55.00 to C$54.00 in a research note on Thursday, July 18th. Desjardins reduced their price objective on Parkland from C$51.00 to C$48.00 and set a “buy” rating for the company in a research note on Tuesday. National Bankshares reduced their price objective on Parkland from C$52.00 to C$49.00 and set an “outperform” rating for the company in a research note on Tuesday. BMO Capital Markets reduced their price objective on Parkland from C$55.00 to C$52.00 in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Parkland presently has a consensus rating of “Moderate Buy” and a consensus price target of C$50.69.

Parkland Price Performance

TSE PKI traded down C$0.39 on Wednesday, reaching C$38.15. 183,435 shares of the stock traded hands, compared to its average volume of 513,642. The firm’s fifty day simple moving average is C$38.46 and its 200 day simple moving average is C$41.93. The company has a quick ratio of 0.73, a current ratio of 1.37 and a debt-to-equity ratio of 210.21. The company has a market cap of C$6.66 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 11.79 and a beta of 1.37. Parkland has a 12 month low of C$35.00 and a 12 month high of C$47.99.

Parkland (TSE:PKI) last issued its quarterly earnings results on Wednesday, May 1st. The company reported C$0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.19. The firm had revenue of C$6.94 billion during the quarter, compared to analyst estimates of C$8.13 billion. Parkland had a return on equity of 12.52% and a net margin of 1.25%. As a group, research analysts predict that Parkland will post 3.1594793 EPS for the current fiscal year.

Insider Activity at Parkland

In other news, Senior Officer Marcel Teunissen acquired 1,000 shares of Parkland stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average price of C$40.35 per share, with a total value of C$40,350.00. Insiders own 20.51% of the company’s stock.

Parkland Company Profile

Parkland Corporation operates food and convenience stores in Canada, the United States, and internationally. The company's Canada segment owns, supplies, and supports a coast-to-coast network of retail gas stations, electronic vehicle charging stations, frozen food retail locations, convenience stores, cardlock sites, bulk fuel, propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers; transports and distributes fuel through ships, rail, and highway carriers; and stores fuel in terminals and other owned and leased facilities, as well as engages in the low-carbon activities.