Parkland (TSE:PKI) Price Target Cut to C$45.00 by Analysts at National Bankshares

Parkland (TSE:PKI) had its price target cut by National Bankshares from C$47.00 to C$45.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada reduced their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. CIBC reduced their price objective on shares of Parkland from C$55.00 to C$54.00 in a research note on Thursday, July 18th. Desjardins reduced their price objective on shares of Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Canaccord Genuity Group reduced their price target on shares of Parkland from C$48.00 to C$47.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, TD Securities dropped their price objective on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Parkland currently has an average rating of “Moderate Buy” and an average price target of C$47.38.

Parkland Stock Performance

Shares of TSE:PKI traded up C$0.56 on Friday, hitting C$32.96. 516,712 shares of the company were exchanged, compared to its average volume of 526,856. The company’s 50 day moving average price is C$35.22 and its two-hundred day moving average price is C$37.68. Parkland has a one year low of C$32.00 and a one year high of C$47.99. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33. The firm has a market capitalization of C$5.74 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 11.79 and a beta of 1.33.

Parkland (TSE:PKI) last posted its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.06. The business had revenue of C$7.50 billion for the quarter, compared to analysts’ expectations of C$7.92 billion. Parkland had a net margin of 1.23% and a return on equity of 12.26%. Research analysts expect that Parkland will post 3.6022267 earnings per share for the current year.

Parkland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Thursday, September 19th. Parkland’s dividend payout ratio (DPR) is presently 65.73%.

Insider Activity

In other news, Senior Officer Marcel Teunissen acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of C$36.52 per share, with a total value of C$36,520.00. Insiders own 20.51% of the company’s stock.

Parkland Company Profile

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.