Canaccord Genuity Group Lowers Parkland (TSE:PKI) Price Target to C$45.00

Parkland (TSE:PKI) had its price objective cut by equities researchers at Canaccord Genuity Group from C$47.00 to C$45.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 36.32% from the stock’s previous close.

PKI has been the subject of a number of other reports. Raymond James decreased their target price on Parkland from C$55.00 to C$47.00 in a research report on Friday, October 25th. National Bankshares decreased their target price on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. decreased their target price on Parkland from C$54.00 to C$53.00 in a research report on Tuesday, September 17th. ATB Capital decreased their target price on 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. Finally, TD Securities decreased their target price on Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently 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 on Friday, hitting C$33.01. 232,841 shares of the company’s stock were exchanged, compared to its average volume of 525,502. The firm’s 50-day moving average is C$35.35 and its 200 day moving average is C$37.78. The company has a market capitalization 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. Parkland has a 1-year low of C$32.00 and a 1-year high of C$47.99. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33.

Parkland (TSE:PKI) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.82 by C$0.06. The business had revenue of C$7.50 billion during the quarter, compared to analysts’ expectations of C$7.92 billion. Parkland had a return on equity of 12.26% and a net margin of 1.23%. Sell-side analysts predict that Parkland will post 3.6022267 EPS for the current year.

Insider Transactions at Parkland

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