Parkland (TSE:PKI) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Parkland Co. (TSE:PKI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$34.90 and traded as high as C$38.73. Parkland shares last traded at C$38.43, with a volume of 536,281 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PKI. National Bankshares cut their price objective on shares of Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Scotiabank cut their price target on Parkland from C$60.00 to C$52.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Canaccord Genuity Group decreased their price objective on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research note on Friday, November 1st. CIBC raised their price objective on Parkland from C$48.00 to C$49.00 in a research report on Wednesday, November 27th. Finally, Raymond James reduced their target price on shares of Parkland from C$55.00 to C$47.00 in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$48.08.

Parkland Stock Performance

The stock has a market capitalization of C$6.70 billion, a price-to-earnings ratio of 27.69, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87. The firm has a 50-day moving average of C$34.19 and a 200-day moving average of C$34.90.

Insider Activity

In other Parkland news, Director James Allan Neate acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of C$33.29 per share, with a total value of C$166,450.00. Corporate 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.