JPMorgan Chase & Co. Has Lowered Expectations for Parkland (TSE:PKI) Stock Price

Parkland (TSE:PKI) had its target price reduced by equities researchers at JPMorgan Chase & Co. from C$58.00 to C$55.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 51.93% from the stock’s current price.

PKI has been the topic of several other research reports. CIBC boosted their target price on shares of Parkland from C$49.00 to C$50.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. National Bankshares upped their price objective on shares of Parkland from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Parkland currently has an average rating of “Buy” and a consensus price target of C$48.08.

Parkland Price Performance

Shares of Parkland stock traded down C$0.73 during midday trading on Tuesday, hitting C$36.20. 251,701 shares of the company were exchanged, compared to its average volume of 1,028,434. The firm has a 50 day simple moving average of C$35.20 and a 200-day simple moving average of C$34.85. Parkland has a 52 week low of C$30.09 and a 52 week high of C$44.12. The firm has a market cap of C$6.31 billion, a P/E ratio of 26.08, a PEG ratio of 11.79 and a beta of 1.33. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.39 and a quick ratio of 0.73.

Insider Activity

In other news, Director James Allan Neate purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of C$33.29 per share, for a total transaction of C$166,450.00. Also, Director Nora Duke acquired 2,800 shares of Parkland stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of C$35.50 per share, for a total transaction of C$99,388.24. 20.51% of the stock is currently owned by insiders.

Parkland Company Profile

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.