Q: Good morning, Parkland is hitting fifty-two week highs lately. Do you think it might be too late to buy in for about a three year period, thanks.
5i Research Answer:
It is interesting how momentum turns. PKI wasn't doing much, for a long time, and then boom, it starts to move. EPS was solid last quarter, and estimates have been recently rising. Engine Capital is an activist investor and is trying to make changes at the company. Investors liked its guidance in early September. We think it remains decent. At 15X earnings, it is still lower than its average valuation of the past decade.