Parkland (TSE:PKI) Price Target Lowered to C$47.00 at Canaccord Genuity Group

Parkland (TSE:PKI) had its target price lowered by research analysts at Canaccord Genuity Group from C$48.00 to C$47.00 in a research report issued on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 34.09% from the company’s previous close.

PKI has been the subject of several other research reports. BMO Capital Markets cut their target price on Parkland from C$52.00 to C$49.00 in a research note on Thursday, August 1st. Cormark decreased their target price on shares of Parkland from C$53.00 to C$49.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on shares of Parkland from C$54.00 to C$53.00 in a research report on Tuesday, September 17th. CIBC lowered their price objective on shares of Parkland from C$55.00 to C$54.00 in a research report on Thursday, July 18th. Finally, TD Securities cut their target price on Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Parkland currently has a consensus rating of “Moderate Buy” and an average price target of C$49.92.

Parkland Price Performance

Shares of TSE:PKI traded down C$1.62 during trading on Thursday, reaching C$35.05. 313,668 shares of the company’s stock traded hands, compared to its average volume of 525,171. The firm has a market cap of C$6.10 billion, a PE ratio of 16.46, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a 50-day simple moving average of C$35.61 and a 200-day simple moving average of C$38.33. 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 has a fifty-two week low of C$34.17 and a fifty-two week high of C$47.99.

Parkland (TSE:PKI) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of C$7.92 billion. As a group, analysts predict that Parkland will post 3.6022267 earnings per share for the current year.

Insider Activity

In other Parkland news, Senior Officer Marcel Teunissen purchased 1,000 shares of Parkland stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of C$36.52 per share, with a total value of C$36,520.00. Insiders own 20.51% of the company’s stock.

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.