Parkland (TSE:PKI) Hits New 1-Year Low After Analyst Downgrade

Shares of Parkland Co. (TSE:PKI) hit a new 52-week low during mid-day trading on Monday after ATB Capital lowered their price target on the stock from C$49.00 to C$46.00. ATB Capital currently has an outperform rating on the stock. Parkland traded as low as C$31.88 and last traded at C$31.89, with a volume of 198087 shares. The stock had previously closed at C$32.96.

PKI has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price objective on Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. CIBC decreased their price target on Parkland from C$50.00 to C$48.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Scotiabank lowered their price objective on Parkland from C$60.00 to C$52.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. BMO Capital Markets cut their target price on shares of Parkland from C$49.00 to C$46.00 in a research report on Tuesday, October 22nd. Finally, TD Securities lowered their price target on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Parkland currently has an average rating of “Moderate Buy” and an average target price of C$47.38.

Insider Activity at Parkland

In other news, Director Michael Christian Jennings bought 4,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of C$32.02 per share, for a total transaction of C$128,060.00. In other news, Director Michael Christian Jennings purchased 4,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was bought at an average price of C$32.02 per share, with a total value of C$128,060.00. Also, 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 acquired at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. Corporate insiders own 20.51% of the company’s stock.

Parkland Price Performance

The company has a 50-day moving average of C$35.15 and a 200-day moving average of C$37.56. 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$5.52 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33.

Parkland Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 20th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Thursday, September 19th. Parkland’s payout ratio is presently 65.73%.

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.