Parkland (TSE:PKI) Price Target Cut to C$46.00 by Analysts at ATB Capital

Parkland (TSE:PKI) had its price objective reduced by ATB Capital from C$49.00 to C$46.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on PKI. TD Securities dropped their target price on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Canaccord Genuity Group cut their target price on Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. decreased their target price on Parkland from C$54.00 to C$53.00 in a research report on Tuesday, September 17th. CIBC cut their price target on Parkland from C$50.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, National Bankshares decreased their price objective on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$47.38.

Parkland Stock Up 1.7 %

Parkland stock traded up C$0.56 during midday trading on Friday, reaching C$32.96. The company’s stock had a trading volume of 516,712 shares, compared to its average volume of 526,856. The company has a market cap of C$5.74 billion, a P/E ratio of 15.47, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 206.76. The business has a 50-day simple moving average of C$35.22 and a 200-day simple moving average of C$37.68. Parkland has a fifty-two week low of C$32.00 and a fifty-two week high of C$47.99.

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

Parkland Announces Dividend

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

Insider Buying and Selling

In other Parkland news, Senior Officer Marcel Teunissen acquired 1,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of C$36.52 per share, with a total value of C$36,520.00. 20.51% of the stock is currently owned by corporate insiders.

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.