Parkland (TSE:PKI) Trading 11.4% Higher – Here’s Why

Parkland Co. (TSE:PKI) rose 11.4% during trading on Tuesday . The stock traded as high as C$39.48 and last traded at C$37.33. Approximately 234,466 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 455,144 shares. The stock had previously closed at C$33.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group lowered their target price on shares of Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. TD Securities lowered their target price on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Scotiabank lowered their target price on shares of Parkland from C$60.00 to C$52.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Desjardins lowered their target price on shares of Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, National Bankshares lowered their price target on shares of Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Parkland has a consensus rating of “Buy” and a consensus target price of C$48.08.

Parkland Stock Performance

The stock has a market capitalization of C$6.42 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33. The firm’s fifty day moving average is C$33.82 and its 200-day moving average is C$34.85. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 206.76.

Insiders Place Their Bets

In other news, Director James Allan Neate bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of C$33.29 per share, for a total transaction of C$166,450.00. 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.