Parkland (TSE:PKI) Rating Lowered to “Tender” at CIBC

Parkland (TSE:PKI) was downgraded by analysts at CIBC from an “outperform” rating to a “tender” rating in a research report issued on Monday,BayStreet.CA reports. They presently have a C$44.00 target price on the stock. CIBC’s price target indicates a potential upside of 14.29% from the stock’s previous close.

A number of other research analysts have also recently weighed in on PKI. Scotiabank cut their price objective on shares of Parkland from C$52.00 to C$44.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. National Bankshares increased their price target on Parkland from C$41.00 to C$42.00 in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on Parkland from C$58.00 to C$55.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. ATB Capital lowered their price target on Parkland from C$46.00 to C$45.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Finally, TD Securities downgraded Parkland from a “buy” rating to a “sell” rating and lowered their price target for the stock from C$50.00 to C$44.00 in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$45.62.

Parkland Stock Down 0.1%

TSE:PKI opened at C$38.50 on Monday. The firm has a market capitalization of C$6.71 billion, a P/E ratio of 27.74, a PEG ratio of 11.79 and a beta of 1.33. Parkland has a 1-year low of C$30.09 and a 1-year high of C$40.29. The company’s fifty day moving average price is C$36.24 and its 200-day moving average price is C$35.47. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.39 and a quick ratio of 0.73.

Insider Activity at Parkland

In other news, Senior Officer Darren Robert Smart sold 5,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of C$36.76, for a total value of C$183,800.00. 20.51% of the stock is currently owned by insiders.

About Parkland

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.