Parkland (TSE:PKI) Trading 11.4% Higher – Here’s Why

Parkland Co. (TSE:PKI) shares traded up 11.4% on Tuesday . The stock traded as high as C$39.48 and last traded at C$37.33. 234,466 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 455,144 shares. The stock had previously closed at C$33.50.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. ATB Capital reduced their price target on shares of Parkland from C$49.00 to C$46.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Scotiabank cut their price objective 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. Raymond James cut their price objective on shares of Parkland from C$55.00 to C$47.00 in a research report on Friday, October 25th. Canaccord Genuity Group cut 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. Finally, BMO Capital Markets cut their price objective on shares of Parkland from C$49.00 to C$46.00 in a research report on Tuesday, October 22nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$48.08.

Parkland Trading Up 10.1 %

The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73. The stock has a market cap of C$6.42 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 11.79 and a beta of 1.33. The company’s fifty day moving average price is C$33.82 and its 200-day moving average price is C$34.85.

Insider Activity

In other Parkland news, Director James Allan Neate purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of C$33.29 per share, for a total transaction of C$166,450.00. Corporate insiders own 20.51% of the company’s stock.

About Parkland

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.