Parkland (TSE:PKI) Reaches New 1-Year Low – Here’s Why

Parkland Co. (TSE:PKI)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as C$30.37 and last traded at C$31.89, with a volume of 43035 shares. The stock had previously closed at C$32.35.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Raymond James reduced their target price on Parkland from C$55.00 to C$47.00 in a report on Friday, October 25th. TD Securities decreased their target price on Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Desjardins cut their price target on shares of Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Scotiabank decreased their price objective on shares of Parkland from C$60.00 to C$52.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, BMO Capital Markets dropped their target price on shares of Parkland from C$49.00 to C$46.00 in a research note on Tuesday, October 22nd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Parkland has a consensus rating of “Buy” and a consensus target price of C$48.08.

Parkland Stock Performance

The company’s 50-day moving average price is C$34.10 and its two-hundred day moving average price is C$34.98. The stock has a market cap of C$5.67 billion, a PE ratio of 15.30, a PEG ratio of 11.79 and a beta of 1.33. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33.

Insiders Place Their Bets

In other Parkland news, Director James Allan Neate purchased 5,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of C$33.29 per share, for a total transaction of C$166,450.00. Corporate insiders own 20.51% of the company’s stock.

About Parkland

Parkland Corporation operates food and convenience stores in Canada, the United States, and internationally. The company’s Canada segment owns, supplies, and supports a coast-to-coast network of retail gas stations, electronic vehicle charging stations, frozen food retail locations, convenience stores, cardlock sites, bulk fuel, propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers; transports and distributes fuel through ships, rail, and highway carriers; and stores fuel in terminals and other owned and leased facilities, as well as engages in the low-carbon activities.