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

Shares of Parkland Co. (TSE:PKI) passed 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.

Analyst Ratings Changes

A number of brokerages have weighed in on PKI. Canaccord Genuity Group lowered their target price 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. National Bankshares lowered their target price 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. CIBC raised their price objective on Parkland from C$48.00 to C$49.00 in a research note on Wednesday, November 27th. ATB Capital reduced their price objective on Parkland from C$49.00 to C$46.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Scotiabank reduced their price objective on Parkland from C$60.00 to C$52.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Parkland presently has an average rating of “Buy” and a consensus target price of C$48.08.

Parkland Stock Performance

The company has a market cap of C$6.21 billion, a PE ratio of 25.67, a PEG ratio of 11.79 and a beta of 1.33. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 199.87. The company has a 50-day moving average of C$34.52 and a 200-day moving average of C$34.87.

Insider Activity at Parkland

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

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.