JPMorgan Chase & Co. Trims Parkland (TSE:PKI) Target Price to C$53.00

Parkland (TSE:PKI) had its price target dropped by research analysts at JPMorgan Chase & Co. from C$54.00 to C$53.00 in a note issued to investors on Tuesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price target points to a potential upside of 52.12% from the company’s previous close.

PKI has been the subject of a number of other reports. Royal Bank of Canada reduced 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 report on Friday, August 2nd. BMO Capital Markets dropped their price target on shares of Parkland from C$52.00 to C$49.00 in a research report on Thursday, August 1st. ATB Capital dropped their price target on shares of Parkland from C$54.00 to C$52.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. National Bankshares dropped their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, CIBC dropped their price target on shares of Parkland from C$55.00 to C$54.00 in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$50.38.

Parkland Stock Performance

Shares of PKI traded up C$0.33 during mid-day trading on Tuesday, hitting C$34.84. 146,587 shares of the company traded hands, compared to its average volume of 518,106. Parkland has a 1 year low of C$34.50 and a 1 year high of C$47.99. The stock has a market cap of C$6.07 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 11.79 and a beta of 1.34. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33. The stock has a 50-day moving average price of C$36.50 and a two-hundred day moving average price of C$39.46.

Parkland (TSE:PKI) last announced its earnings results 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 business had revenue of C$7.50 billion during the quarter, compared to analysts’ expectations of C$7.92 billion.

Insider Buying and Selling at Parkland

In other Parkland news, Senior Officer Marcel Teunissen acquired 1,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of C$36.52 per share, for a total transaction of C$36,520.00. 20.51% of the stock is owned by company 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.