Parkland (TSE:PKI) Stock Price Expected to Rise, CIBC Analyst Says

Parkland (TSE:PKI) had its target price boosted by CIBC from C$48.00 to C$49.00 in a report issued on Wednesday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 33.37% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. National Bankshares dropped their price objective 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. Canaccord Genuity Group cut their price target on 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. Desjardins lowered their price objective on Parkland from C$46.00 to C$44.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. Finally, Scotiabank dropped 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 report on Friday, November 1st. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$48.08.

Parkland Trading Up 1.9 %

PKI opened at C$36.74 on Wednesday. The business has a fifty day moving average price of C$34.51 and a 200 day moving average price of C$36.61. 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 12 month low of C$31.68 and a 12 month high of C$47.99. The stock has a market capitalization of C$6.40 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 11.79 and a beta of 1.33.

Insider Activity

In related news, Director Michael Christian Jennings purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of C$32.02 per share, with a total value of C$128,060.00. Corporate insiders own 20.51% of the company’s stock.

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.