ATB Capital Lowers Parkland (TSE:PKI) Price Target to C$45.00

Parkland (TSE:PKI) had its price target cut by research analysts at ATB Capital from C$46.00 to C$45.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Capital’s price target indicates a potential upside of 37.83% from the stock’s previous close.

Several other brokerages have also weighed in on PKI. JPMorgan Chase & Co. cut their target price on Parkland from C$58.00 to C$55.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Canaccord Genuity Group cut their price objective on shares of Parkland from C$45.00 to C$42.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James lowered their target price on shares of Parkland from C$47.00 to C$45.00 and set an “outperform” rating for the company in a report on Thursday. National Bankshares boosted their price target on shares of Parkland from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Finally, CIBC decreased their price objective on shares of Parkland from C$50.00 to C$43.00 in a research note on Thursday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$46.85.

Parkland Stock Performance

Shares of PKI stock opened at C$32.65 on Thursday. Parkland has a 12 month low of C$30.09 and a 12 month high of C$43.64. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87. The company has a market cap of C$5.69 billion, a P/E ratio of 23.53, a PEG ratio of 11.79 and a beta of 1.33. The firm has a fifty day moving average price of C$35.42 and a 200 day moving average price of C$34.62.

Insiders Place Their Bets

In related news, Senior Officer Darren Robert Smart sold 5,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of C$36.76, for a total transaction of C$183,800.00. Also, Director Nora Duke bought 2,800 shares of Parkland stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of C$35.50 per share, with a total value of C$99,388.24. 20.51% of the stock is currently owned by insiders.

About Parkland

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.