CIBC Trims Parkland (TSE:PKI) Target Price to C$55.00

Parkland (TSE:PKI) had its price target decreased by equities researchers at CIBC from C$57.00 to C$55.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 36.95% from the stock’s current price.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. decreased their price target on Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. Royal Bank of Canada dropped their target price on Parkland from C$54.00 to C$50.00 in a research report on Monday, April 15th. Scotiabank upped their target price on shares of Parkland from C$50.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. National Bankshares increased their price objective on Parkland from C$49.00 to C$52.00 in a research note on Monday, April 22nd. Finally, BMO Capital Markets lowered their price target on shares of Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$51.54.

Parkland Stock Performance

Shares of TSE:PKI traded down C$1.43 during trading on Friday, hitting C$40.16. 1,140,897 shares of the stock traded hands, compared to its average volume of 497,218. The company has a market cap of C$7.06 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 11.79 and a beta of 1.38. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87. The company has a fifty day moving average price of C$43.16 and a two-hundred day moving average price of C$43.67. Parkland has a 52-week low of C$30.88 and a 52-week high of C$47.99.

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

Insider Activity

In other news, Senior Officer Darren Robert Smart sold 1,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total value of C$43,000.00. In other news, Senior Officer Darren Robert Smart sold 1,000 shares of Parkland stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$43.00, for a total transaction of C$43,000.00. Also, Senior Officer Robert Berthold Espey sold 7,500 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total value of C$328,125.00. Over the last quarter, insiders sold 42,392 shares of company stock worth $1,867,999. 20.51% of the stock is currently owned by corporate insiders.

Parkland Company Profile

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.