Scotiabank Issues Pessimistic Forecast for Parkland (TSE:PKI) Stock Price

Parkland (TSE:PKI) had its price target reduced by Scotiabank from C$60.00 to C$52.00 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 57.53% from the company’s current price.

A number of other brokerages also recently commented on PKI. ATB Capital lowered their price objective 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. Royal Bank of Canada lowered their price objective 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. Raymond James lowered their price objective on Parkland from C$55.00 to C$47.00 in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on Parkland from C$54.00 to C$53.00 in a research report on Tuesday, September 17th. Finally, BMO Capital Markets lowered their price objective on Parkland from C$49.00 to C$46.00 in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Parkland presently has an average rating of “Moderate Buy” and a consensus price target of C$47.38.

Parkland Trading Up 1.9 %

TSE:PKI traded up C$0.61 on Friday, reaching C$33.01. 232,841 shares of the company’s stock were exchanged, compared to its average volume of 525,502. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 206.76. The firm has a market capitalization of C$5.75 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33. The business has a fifty day moving average of C$35.35 and a 200-day moving average of C$37.78. Parkland has a 52-week low of C$32.00 and a 52-week high of C$47.99.

Parkland (TSE:PKI) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.06. The company had revenue of C$7.50 billion for the quarter, compared to analyst estimates of C$7.92 billion. Parkland had a net margin of 1.23% and a return on equity of 12.26%. As a group, analysts expect that Parkland will post 3.6022267 earnings per share for the current year.

Insider Buying and Selling at Parkland

In other news, Senior Officer Marcel Teunissen bought 1,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of C$36.52 per share, with a total value of C$36,520.00. 20.51% of the stock is owned by corporate 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.