Parkland (TSE:PKI) Price Target Cut to C$55.00 by Analysts at CIBC

Parkland (TSE:PKI) had its price objective cut by CIBC from C$57.00 to C$55.00 in a research report report published on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. BMO Capital Markets cut their price target on Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. National Bankshares boosted their price objective on Parkland from C$49.00 to C$52.00 in a report on Monday, April 22nd. TD Securities increased their target price on Parkland from C$52.00 to C$53.00 and gave the stock a buy rating in a report on Tuesday, February 6th. Finally, Scotiabank boosted their target price on shares of Parkland from C$50.00 to C$60.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of C$51.54.

Parkland Stock Down 3.4 %

Shares of Parkland stock opened at C$40.16 on Friday. The firm has a market cap of C$7.06 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 11.79 and a beta of 1.38. The stock’s 50-day moving average is C$43.00 and its 200 day moving average is C$43.70. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.29 and a quick ratio of 0.73. Parkland has a one year low of C$30.88 and a one year high of C$47.99.

Parkland (TSE:PKI) last announced its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, topping the consensus estimate of C$0.64 by C$0.20. Parkland had a net margin of 1.45% and a return on equity of 15.15%. The company had revenue of C$7.75 billion during the quarter, compared to the consensus estimate of C$8.41 billion. Equities research analysts anticipate that Parkland will post 3.302673 EPS for the current year.

Parkland Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Thursday, March 21st. This is an increase from Parkland’s previous quarterly dividend of $0.34. Parkland’s dividend payout ratio is 53.23%.

Insider Activity

In related news, Senior Officer Robert Berthold Espey sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total value of C$484,000.00. In other Parkland news, Senior Officer Darren Robert Smart sold 2,500 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$44.00, for a total value of C$110,000.00. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total value of C$484,000.00. Insiders sold a total of 42,392 shares of company stock valued at $1,867,999 in the last ninety days. 20.51% of the stock is currently owned by 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.