Parkland (TSE:PKI) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Parkland Co. (TSE:PKI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$34.87 and traded as high as C$36.69. Parkland shares last traded at C$35.62, with a volume of 15,721,967 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on PKI shares. CIBC lifted their price objective on Parkland from C$48.00 to C$49.00 in a report on Wednesday, November 27th. National Bankshares cut their price target on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a report on Friday, November 1st. Canaccord Genuity Group dropped their price objective on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a report on Friday, November 1st. ATB Capital dropped their price objective on Parkland from C$49.00 to C$46.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Scotiabank decreased their target price on Parkland from C$60.00 to C$52.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$48.08.

Parkland Trading Down 2.2 %

The business has a 50-day simple moving average of C$34.52 and a two-hundred day simple moving average of C$34.87. The stock has a market cap of C$6.21 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.39.

Insider Buying and Selling at Parkland

In related news, Director James Allan Neate acquired 5,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was bought 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.