Parkland (TSE:PKI) Given New C$55.00 Price Target at CIBC

Parkland (TSE:PKI) had its price objective cut by research analysts at CIBC from C$57.00 to C$55.00 in a report released on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 36.95% from the company’s previous close.

PKI has been the topic of a number of other reports. BMO Capital Markets lowered their price target on Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. Royal Bank of Canada lowered their target price on Parkland from C$54.00 to C$50.00 in a report on Monday, April 15th. JPMorgan Chase & Co. lowered their target price on Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. National Bankshares lifted their price target on Parkland from C$49.00 to C$52.00 in a research note on Monday, April 22nd. Finally, Scotiabank lifted their price target on Parkland from C$50.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$51.54.

Parkland Price Performance

Shares of PKI opened at C$40.16 on Friday. The firm has a market capitalization of C$7.06 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.29. Parkland has a one year low of C$30.88 and a one year high of C$47.99. The stock’s fifty day moving average is C$43.00 and its 200-day moving average is C$43.68.

Parkland (TSE:PKI) last issued its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, beating analysts’ consensus estimates of C$0.64 by C$0.20. The company had revenue of C$7.75 billion for the quarter, compared to analyst estimates of C$8.41 billion. Parkland had a return on equity of 15.15% and a net margin of 1.45%. Equities analysts anticipate that Parkland will post 3.302673 EPS for the current year.

Insider Activity

In other news, Senior Officer Darren Robert Smart sold 5,000 shares of Parkland stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$44.66, for a total transaction of C$223,304.50. In other news, Senior Officer Darren Robert Smart sold 5,000 shares of Parkland stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$44.66, for a total transaction of C$223,304.50. Also, Senior Officer Robert Berthold Espey sold 7,500 shares of Parkland stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$43.75, for a total value of C$328,125.00. Insiders sold a total of 42,392 shares of company stock worth $1,867,999 in the last three months. 20.51% of the stock is owned by insiders.

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.