Parkland (TSE:PKI) Stock Price Up 6.5% – Here’s Why

Parkland Co. (TSE:PKI) rose 6.5% during mid-day trading on Thursday . The stock traded as high as C$37.51 and last traded at C$37.16. Approximately 215,854 shares were traded during trading, a decline of 78% from the average daily volume of 963,164 shares. The stock had previously closed at C$34.88.

Analyst Ratings Changes

Separately, CIBC upped their target price on Parkland from C$48.00 to C$49.00 in a research note on Wednesday, November 27th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$48.08.

Parkland Stock Performance

The firm’s fifty day moving average price is C$34.62 and its 200-day moving average price is C$34.86. 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 cap of C$6.38 billion, a P/E ratio of 26.36, a P/E/G ratio of 11.79 and a beta of 1.33.

Insider Transactions at Parkland

In other Parkland news, Director James Allan Neate bought 5,000 shares of the firm’s stock in a transaction dated 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. 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.