Canaccord Genuity Group Lowers Parkland (TSE:PKI) Price Target to C$47.00

Parkland (TSE:PKI) had its price target reduced by stock analysts at Canaccord Genuity Group from C$48.00 to C$47.00 in a research note issued on Thursday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 32.66% from the stock’s current price.

A number of other brokerages have also recently commented on PKI. Cormark cut their target price on shares of Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. Royal Bank of Canada decreased their target price on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. CIBC dropped their price target on Parkland from C$55.00 to C$54.00 in a research report on Thursday, July 18th. National Bankshares decreased 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. Finally, ATB Capital dropped 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. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Parkland currently has a consensus rating of “Moderate Buy” and a consensus price target of C$49.92.

Parkland Price Performance

Shares of PKI opened at C$35.43 on Thursday. The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73. Parkland has a 1-year low of C$34.17 and a 1-year high of C$47.99. The stock has a market cap of C$6.17 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33. The firm has a fifty day moving average price of C$35.59 and a 200 day moving average price of C$38.26.

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

Insiders Place Their Bets

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 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.