In a latest note to investors, a research analyst has provided a rating update for the Services sector company, Parkland Fuel (TSX: PKI). Analyst Michael Van Aelst from TD Securities reiterated a Buy rating, with a C$54 price target yesterday.
Aelst has an average return of 4.9% when recommending Parkland Fuel.
According to TipRanks.com, Aelst is ranked #3864 out of 4877 analysts.
Currently, the analyst consensus on Parkland Fuel is a Strong Buy with an average price target of C$47.50, which is a 6.5% upside from current levels. In a report issued on October 10, Desjardins also maintained a Buy rating on the stock with a C$50 price target.
Based on Parkland Fuel’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$3.78 billion and net profit of C$60 million. In comparison, last year the company had a net profit of C$12.7 million.
Parkland Fuel Corp. engages in the market and distribution of petroleum products. It delivers gasoline, diesel fuel, lubricants, heating oil and other products to businesses, consumers and wholesale customers. The company operates through the following business segments: Retail Fuels, Commercial Fuels, Parkland USA, Supply and Wholesale; and Corporate.
The company’s shares closed on Thursday at C$44.59, close to its 52-week high of C$45.49.