The Goldman Sachs Group Lowers Parkland (TSE:PKI) Price Target to C$35.00

Parkland (TSE:PKIGet Rating) had its price target cut by research analysts at The Goldman Sachs Group from C$47.00 to C$35.00 in a research note issued on Wednesday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 8.59% from the company’s previous close.

Several other research firms have also issued reports on PKI. National Bankshares dropped their price target on shares of Parkland from C$48.00 to C$45.00 and set an “outperform” rating on the stock in a research report on Monday, March 7th. TD Securities dropped their price objective on shares of Parkland from C$53.00 to C$50.00 and set a “buy” rating on the stock in a research report on Monday, March 7th. Raymond James set a C$52.00 price objective on shares of Parkland and gave the company a “strong-buy” rating in a research report on Monday, May 9th. CIBC dropped their price objective on shares of Parkland from C$53.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Monday, March 7th. Finally, Scotiabank increased their price objective on shares of Parkland from C$44.00 to C$45.00 in a research report on Friday, May 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$47.17.

TSE PKI opened at C$32.23 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 0.85 and a debt-to-equity ratio of 265.57. The firm’s fifty day moving average price is C$36.05 and its two-hundred day moving average price is C$34.92. Parkland has a 1 year low of C$31.18 and a 1 year high of C$41.78. The firm has a market capitalization of C$4.91 billion and a P/E ratio of 40.14.

Parkland (TSE:PKIGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported C$0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.70 by C$0.17. The firm had revenue of C$7.61 billion for the quarter, compared to the consensus estimate of C$6.16 billion. On average, research analysts anticipate that Parkland will post 3.3399999 EPS for the current fiscal year.

In other Parkland news, Senior Officer Darren Robert Smart sold 15,000 shares of the stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of C$33.69, for a total transaction of C$505,350.00. Following the sale, the insider now directly owns 25,275 shares in the company, valued at C$851,514.75. Also, Senior Officer Robert Berthold Espey sold 10,000 shares of the stock in a transaction dated Friday, June 10th. The stock was sold at an average price of C$39.40, for a total transaction of C$394,000.00. Following the sale, the insider now owns 683,795 shares in the company, valued at C$26,941,523. Over the last ninety days, insiders have sold 54,646 shares of company stock worth $1,953,995.

Parkland Company Profile (Get Rating)

Parkland Corporation operates food and convenience stores in Canada, the United States, the Caribbean region, and Central and South America. The company operates through four segments: Canada, USA, Supply, and International. The Canada segment owns, operates, supports, and distributes a coast-to-coast network of retail convenience, food, and fuel sites, as well as commercial cardlocks and bulk fuel facilities; and provides propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers.

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