Parkland (TSE:PKI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Parkland Co. (TSE:PKI)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$34.88 and traded as high as C$36.12. Parkland shares last traded at C$36.02, with a volume of 620,210 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have 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 stock an “outperform” rating in a research report on Friday, March 7th. National Bankshares upped their target price on Parkland from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their price target on Parkland from C$58.00 to C$55.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$48.08.

Parkland Stock Performance

The firm has a market cap of C$6.26 billion, a PE ratio of 25.85, a P/E/G ratio of 11.79 and a beta of 1.33. The stock has a 50-day moving average price of C$35.74 and a 200 day moving average price of C$34.88. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.39 and a quick ratio of 0.73.

Insiders Place Their Bets

In other Parkland news, Senior Officer Darren Robert Smart sold 5,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of C$36.76, for a total transaction of C$183,800.00. Also, Director Nora Duke acquired 2,800 shares of the stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of C$35.50 per share, with a total value of C$99,388.24. 20.51% of the stock is owned by corporate insiders.

About Parkland

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.