Parkland (TSE:PKI) Price Target Cut to C$44.00

Parkland (TSE:PKI) had its price objective cut by equities research analysts at Desjardins from C$46.00 to C$44.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target indicates a potential upside of 28.50% from the company’s previous close.

PKI has been the topic of a number of other reports. BMO Capital Markets lowered their target price on Parkland from C$49.00 to C$46.00 in a report on Tuesday. CIBC dropped their target price on shares of Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. Royal Bank of Canada cut their target price on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. National Bankshares decreased their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, ATB Capital dropped their price target on Parkland from C$54.00 to C$52.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Parkland presently has an average rating of “Moderate Buy” and an average price target of C$49.54.

Parkland Trading Up 0.1 %

Shares of TSE:PKI opened at C$34.24 on Wednesday. Parkland has a twelve month low of C$33.61 and a twelve month high of C$47.99. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 206.76. The firm has a market cap of C$5.96 billion, a P/E ratio of 16.08, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a 50 day moving average of C$35.51 and a 200-day moving average of C$38.03.

Parkland (TSE:PKI) last released its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share 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 during the quarter, compared to the consensus estimate of C$7.92 billion. As a group, analysts anticipate 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 purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of C$36.52 per share, with a total value of C$36,520.00. 20.51% of the stock is currently 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.