Parkland (TSE:PKI) Given New C$47.00 Price Target at The Goldman Sachs Group

Parkland (TSE:PKI) had its price target boosted by stock analysts at The Goldman Sachs Group to C$47.00 in a research note issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 24.37% from the company’s current price.

Several other brokerages have also commented on PKI. JPMorgan Chase & Co. decreased their target price on shares of Parkland from C$52.00 to C$51.00 and set a “na” rating on the stock in a research report on Monday, July 19th. TD Securities boosted their target price on shares of Parkland from C$51.00 to C$53.00 and gave the stock a “buy” rating in a research report on Monday, August 9th. National Bank Financial boosted their target price on shares of Parkland from C$45.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Monday, August 9th. Raymond James reiterated a “strong-buy” rating and issued a C$52.00 price objective on shares of Parkland in a research report on Monday, October 4th. Finally, CIBC reiterated an “outperform” rating and issued a C$40.00 price objective on shares of Parkland in a research report on Monday, August 16th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$48.27.

PKI traded up C$0.33 during trading on Thursday, hitting C$37.79. The stock had a trading volume of 132,525 shares, compared to its average volume of 389,778. The company has a debt-to-equity ratio of 207.14, a quick ratio of 0.76 and a current ratio of 1.39. The firm has a market capitalization of C$5.73 billion and a P/E ratio of 55.49. The company’s 50-day moving average price is C$36.88 and its 200 day moving average price is C$38.57. Parkland has a twelve month low of C$32.18 and a twelve month high of C$45.10.

Parkland (TSE:PKI) last announced its quarterly earnings data on Thursday, August 5th. The company reported C$0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.43 by C$0.20. The firm had revenue of C$5.02 billion during the quarter, compared to analyst estimates of C$4.23 billion. As a group, equities analysts expect that Parkland will post 2.56 earnings per share for the current fiscal year.

In other Parkland news, Senior Officer Christy Elliott sold 10,357 shares of the company’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of C$38.08, for a total value of C$394,394.56. Following the transaction, the insider now directly owns 1,956 shares in the company, valued at approximately C$74,484.48.

About Parkland

Parkland Corporation operates as a marketer, distributor, and refiner of fuel and petroleum products in Canada, the United States, and internationally. The company operates through Canada, International, USA, Supply, and Corporate segments. The Canada segment supplies and supports a coast-to-coast network of 1,860 retail gas stations under the Ultramar, Esso, Fas Gas Plus, Chevron, Pioneer, and Race Trac as well as operates convenience stores under the On the Run/Marché Express brand.

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