JPMorgan Chase & Co. Has Lowered Expectations for Parkland (TSE:PKI) Stock Price

Parkland (TSE:PKI) had its target price cut by equities research analysts at JPMorgan Chase & Co. from C$58.00 to C$55.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 51.93% from the stock’s current price.

A number of other analysts have also recently issued reports on the stock. CIBC lifted their target price on shares of Parkland from C$49.00 to C$50.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. National Bankshares lifted their price objective on shares of Parkland from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$48.08.

Parkland Stock Down 2.0 %

TSE PKI traded down C$0.73 on Tuesday, reaching C$36.20. The stock had a trading volume of 251,701 shares, compared to its average volume of 1,028,434. Parkland has a 1 year low of C$30.09 and a 1 year high of C$44.12. The business has a 50 day moving average price of C$35.20 and a 200 day moving average price of C$34.85. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87. The company has a market capitalization of C$6.31 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 11.79 and a beta of 1.33.

Insider Activity

In other news, Director Nora Duke acquired 2,800 shares of Parkland stock in a transaction on Monday, March 10th. The stock was bought at an average price of C$35.50 per share, for a total transaction of C$99,388.24. Also, Director James Allan Neate acquired 5,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of C$33.29 per share, for a total transaction of C$166,450.00. 20.51% of the stock is owned by company insiders.

Parkland Company Profile

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.