Parkland (TSE:PKI) Sets New 1-Year Low Following Analyst Downgrade

Parkland Co. (TSE:PKI)’s share price reached a new 52-week low during trading on Wednesday after Desjardins lowered their price target on the stock from C$46.00 to C$44.00. Desjardins currently has a buy rating on the stock. Parkland traded as low as C$34.08 and last traded at C$34.17, with a volume of 23387 shares. The stock had previously closed at C$34.37.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group reduced their price objective on shares of Parkland from C$48.00 to C$47.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Cormark reduced their price objective on shares of Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. CIBC reduced their price objective on shares of Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. JPMorgan Chase & Co. cut their price target on shares of Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. Finally, Royal Bank of Canada cut their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$49.54.

Insider Buying and Selling

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

Parkland Price Performance

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 company has a market capitalization of C$5.95 billion, a P/E ratio of 15.87, a PEG ratio of 11.79 and a beta of 1.33. The firm has a 50-day moving average price of C$35.58 and a two-hundred day moving average price of C$38.08.

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

Parkland Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.40 annualized dividend and a yield of ?. Parkland’s dividend payout ratio is currently 65.73%.

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.