BMO Capital Markets Lowers Parkland (TSE:PKI) Price Target to C$46.00

Parkland (TSE:PKI) had its price objective dropped by investment analysts at BMO Capital Markets from C$49.00 to C$46.00 in a research report issued on Tuesday, BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 33.06% from the company’s previous close.

A number of other research firms have also recently issued reports on PKI. Royal Bank of Canada cut their price target on Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. ATB Capital cut their target price on Parkland from C$54.00 to C$52.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Desjardins lowered their price target on Parkland from C$48.00 to C$46.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. National Bankshares lowered their price target on 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, Cormark lowered their price target on Parkland from C$53.00 to C$49.00 in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$49.69.

Parkland Trading Down 0.9 %

Shares of Parkland stock traded down C$0.33 on Tuesday, hitting C$34.57. The stock had a trading volume of 131,302 shares, compared to its average volume of 527,201. The stock has a 50 day moving average of C$35.60 and a 200 day moving average of C$38.14. Parkland has a twelve month low of C$34.17 and a twelve month 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. The firm has a market capitalization of C$6.02 billion, a P/E ratio of 16.23, a PEG ratio of 11.79 and a beta of 1.33.

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

Insider Activity at Parkland

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

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.