Scotiabank Downgrades Parkland (TSE:PKI) to Hold

Parkland (TSE:PKI) was downgraded by analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a C$44.00 price objective on the stock. Scotiabank’s price target would indicate a potential upside of 15.06% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. ATB Capital lowered their target price on Parkland from C$46.00 to C$45.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. CIBC lowered Parkland from an “outperform” rating to a “tender” rating and set a C$44.00 price target for the company. in a report on Monday, June 9th. Raymond James Financial dropped their price objective on Parkland from C$47.00 to C$45.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. TD Securities lowered shares of Parkland from a “buy” rating to a “sell” rating and cut their price objective for the company from C$50.00 to C$44.00 in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut shares of Parkland from an “overweight” rating to a “neutral” rating and reduced their target price for the company from C$54.00 to C$41.00 in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parkland currently has an average rating of “Moderate Buy” and a consensus price target of C$44.46.

Parkland Trading Up 1.5%

TSE PKI opened at C$38.24 on Wednesday. The firm’s 50 day moving average price is C$37.68 and its two-hundred day moving average price is C$35.65. The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.39. Parkland has a twelve month low of C$30.09 and a twelve month high of C$40.29. The stock has a market cap of C$6.67 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 11.79 and a beta of 1.33.

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.