Parkland (TSE:PKI) Given New C$48.00 Price Target at CIBC

Parkland (TSE:PKI) had its price target cut by CIBC from C$50.00 to C$48.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective points to a potential upside of 45.41% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. National Bankshares cut their target price on Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank of Canada cut their target price on Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. BMO Capital Markets dropped their price objective on Parkland from C$49.00 to C$46.00 in a research report on Tuesday, October 22nd. Desjardins dropped their price objective on Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Cormark dropped their price objective on Parkland from C$53.00 to C$49.00 in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$47.38.

Parkland Stock Up 1.9 %

Shares of TSE PKI traded up C$0.61 during trading on Friday, reaching C$33.01. The company had a trading volume of 232,841 shares, compared to its average volume of 525,502. Parkland has a 12-month low of C$32.00 and a 12-month high of C$47.99. The stock has a market cap of C$5.75 billion, a PE ratio of 15.50, a P/E/G ratio of 11.79 and a beta of 1.33. The business’s 50-day moving average is C$35.35 and its 200 day moving average is C$37.78. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 206.76.

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

Insider Transactions at Parkland

In other Parkland news, Senior Officer Marcel Teunissen bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of C$36.52 per share, with a total value of C$36,520.00. Corporate 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.