Parkland (TSE:PKI) Hits New 52-Week Low After Analysts Downgrade

Shares of Parkland Co. (TSE:PKI) hit a new 52-week low on Friday after Canaccord Genuity Group lowered its price target on the stock from C$48.00 to C$47.00. The company traded as low as CA$32.81 and last traded at CA$32.90, with volume at 644,923 shares. The stock had previously closed at C$34.00.

Several other research companies have also recently published reports on PKI. JPMorgan Chase & Co. raised its price target on Parkland shares from C$51.00 to C$53.00 in a Thursday, October 21 research report. Raymond James reiterated a “strong buy” rating and posted a C$52.00 price target on Parkland shares in a research note on Wednesday. Royal Bank of Canada raised its price target on Parkland shares from C$49.00 to C$50.00 and gave the company an “outperform” rating in a Wednesday, November 17 research note. Goldman Sachs Group raised its price target on Parkland shares from C$46.00 to C$47.00 and gave the stock a “buy” rating in a Thursday, October 14 research note . Finally, National Bankshares raised its price target on Parkland shares from CA$47.00 to CA$48.00 and gave the stock an “outperform” rating in a Wednesday, November 17 research note. One analyst gave the stock a hold rating, six gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$49.09.

The stock’s fifty-day moving average is C$34.38 and its two-hundred-day moving average is C$36.52. The company has a market cap of C$5.01 billion and a price-to-earnings ratio of 35.04. The company has a debt ratio of 204.18, a quick ratio of 0.68 and a current ratio of 1.29.

Parkland (TSE:PKI) last released its quarterly earnings data on Tuesday, November 2. The company reported EPS of C$0.70 for the quarter, beating the Zacks consensus estimate of C$0.62 by C$0.08. The company posted revenue of C$6.01 billion for the quarter, versus a consensus estimate of C$4.93 billion. Sell-side analysts expect Parkland Co. to post earnings per share of 3.13 for the current year.

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About Parkland (TSE: ICP)

Parkland Corporation is engaged in the marketing, distribution and refining of fuels and petroleum products in Canada, the United States and abroad. The Company operates through Canada, International, United States, Supply and Enterprise segments. The Canada segment supplies and supports a Canada-wide network of 1,860 retail gas stations under the Ultramar, Esso, Fas Gas Plus, Chevron, Pioneer and Race Trac, as well as convenience stores under the On the Run/Marché Express brand.

Further Reading: Bear Market

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