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

Parkland (TSE:PKI) had its price target hoisted by CIBC from C$48.00 to C$49.00 in a report issued on Wednesday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 35.36% from the company’s current price.

A number of other equities analysts have also commented on the stock. Scotiabank reduced 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. Cormark cut their price objective on shares of Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. National Bankshares 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 report on Friday, November 1st. BMO Capital Markets cut their price objective on shares of Parkland from C$49.00 to C$46.00 in a report on Tuesday, October 22nd. Finally, Raymond James cut their price objective on shares of Parkland from C$55.00 to C$47.00 in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$48.08.

Parkland Trading Up 5.4 %

Shares of TSE:PKI traded up C$1.87 during trading on Wednesday, reaching C$36.20. 491,985 shares of the company were exchanged, compared to its average volume of 535,444. The firm has a market capitalization of C$6.30 billion, a PE ratio of 17.04, a P/E/G ratio of 11.79 and a beta of 1.33. The business’s fifty day simple moving average is C$34.49 and its 200-day simple moving average is C$36.63. Parkland has a 12-month low of C$31.68 and a 12-month high of C$47.99. The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73.

Insider Transactions at Parkland

In other Parkland news, Director Michael Christian Jennings bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of C$32.02 per share, for a total transaction of C$128,060.00. 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.