Parkland (TSE:PKI) Price Target Cut to C$52.00 by Analysts at Scotiabank

Parkland (TSE:PKI) had its price target cut by analysts at Scotiabank from C$60.00 to C$52.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 57.53% from the stock’s previous close.

A number of other research firms have also recently weighed in on PKI. Raymond James cut their price objective on shares of Parkland from C$55.00 to C$47.00 in a research report on Friday, October 25th. National Bankshares lowered their target price on shares of Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research note on Friday. CIBC lowered their target price on shares of Parkland from C$50.00 to C$48.00 and set an “outperform” rating for the company in a research note on Friday. TD Securities lowered their price objective on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Canaccord Genuity Group reduced their target price on shares of Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Parkland presently has an average rating of “Moderate Buy” and an average price target of C$47.38.

Parkland Price Performance

Shares of Parkland stock traded up C$0.61 on Friday, hitting C$33.01. 232,841 shares of the company traded hands, compared to its average volume of 525,502. The stock has a market capitalization of C$5.75 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33. Parkland has a 52 week low of C$32.00 and a 52 week high of C$47.99. The business has a 50-day simple moving average of C$35.35 and a 200 day simple moving average of C$37.78.

Parkland (TSE:PKI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.82 by C$0.06. Parkland had a net margin of 1.23% and a return on equity of 12.26%. The company had revenue of C$7.50 billion for the quarter, compared to analysts’ expectations of C$7.92 billion. Research analysts expect that Parkland will post 3.6022267 earnings per share for the current fiscal year.

Insider Activity at Parkland

In related news, Senior Officer Marcel Teunissen acquired 1,000 shares of Parkland stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. 20.51% of the stock is owned by insiders.

About Parkland

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.