Canaccord Genuity Group Issues Pessimistic Forecast for Parkland (TSE:PKI) Stock Price

Parkland (TSE:PKI) had its price target cut by stock analysts at Canaccord Genuity Group from C$45.00 to C$42.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 28.64% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on Parkland from C$58.00 to C$55.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. National Bankshares lifted their price objective on shares of Parkland from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Finally, CIBC reduced their target price on shares of Parkland from C$50.00 to C$43.00 in a research report on Thursday. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$46.85.

Parkland Stock Performance

Shares of PKI opened at C$32.65 on Thursday. The stock has a 50 day moving average of C$35.42 and a 200 day moving average of C$34.62. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87. Parkland has a 12 month low of C$30.09 and a 12 month high of C$43.64. The company has a market capitalization of C$5.69 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 11.79 and a beta of 1.33.

Insider Buying and Selling at Parkland

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

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.