Scotiabank Has Lowered Expectations for Parkland (TSE:PKI) Stock Price

Parkland (TSE:PKI) had its price objective reduced by Scotiabank from C$60.00 to C$52.00 in a research note issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 57.77% from the stock’s previous close.

PKI has been the topic of a number of other reports. Royal Bank of Canada dropped their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Securities decreased their price objective on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Raymond James cut their target price on Parkland from C$55.00 to C$47.00 in a research note on Friday, October 25th. Canaccord Genuity Group decreased their price target on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research report on Friday. Finally, Desjardins dropped their price target on Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$47.38.

Parkland Stock Performance

Shares of Parkland stock opened at C$32.96 on Friday. The company has a market cap of C$5.74 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 206.76. Parkland has a 52 week low of C$32.00 and a 52 week high of C$47.99. The business has a 50 day moving average price of C$35.22 and a 200-day moving average price of C$37.68.

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

Insider Activity

In related news, Senior Officer Marcel Teunissen bought 1,000 shares of Parkland stock in a transaction on Tuesday, August 27th. The stock was acquired 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 company 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.