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

Parkland (TSE:PKI) had its price objective upped by investment analysts at The Goldman Sachs Group to C$47.00 in a report issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 24.37% from the company’s previous close.

PKI has been the subject of a number of other reports. CIBC reaffirmed an “outperform” rating and set a C$40.00 price target on shares of Parkland in a research note on Monday, August 16th. BMO Capital Markets cut their price target on Parkland from C$50.00 to C$49.00 in a research note on Monday, August 9th. National Bankshares raised their price target on Parkland from C$45.00 to C$47.00 and gave the stock an “outperform” rating in a research note on Monday, August 9th. National Bank Financial raised their price target on Parkland from C$45.00 to C$47.00 and gave the stock an “outperform” rating in a research note on Monday, August 9th. Finally, TD Securities raised their price objective on Parkland from C$51.00 to C$53.00 and gave the company a “buy” rating in a research note on Monday, August 9th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$48.27.

TSE PKI traded up C$0.33 during trading on Thursday, reaching C$37.79. 132,525 shares of the company’s stock were exchanged, compared to its average volume of 389,778. Parkland has a fifty-two week low of C$32.18 and a fifty-two week high of C$45.10. The firm has a market capitalization of C$5.73 billion and a PE ratio of 55.49. The company has a current ratio of 1.39, a quick ratio of 0.76 and a debt-to-equity ratio of 207.14. The company’s fifty day simple moving average is C$36.88 and its 200-day simple moving average is C$38.57.

Parkland (TSE:PKI) last announced its quarterly earnings data on Thursday, August 5th. The company reported C$0.63 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.43 by C$0.20. The business had revenue of C$5.02 billion for the quarter, compared to analyst estimates of C$4.23 billion. Equities analysts forecast that Parkland will post 2.56 EPS for the current fiscal year.

In other Parkland news, Senior Officer Christy Elliott sold 10,357 shares of Parkland stock in a transaction that occurred on Friday, August 27th. The stock was 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 of the company’s stock, valued at approximately C$74,484.48.

Parkland Company Profile

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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Analyst Recommendations for Parkland (TSE:PKI)

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