Parkland (TSE:PKI) Price Target Raised to C$49.00

Parkland (TSE:PKI) had its target price increased by CIBC from C$48.00 to C$49.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Several other analysts have also issued reports on the stock. BMO Capital Markets lowered their price target on shares of Parkland from C$49.00 to C$46.00 in a research report on Tuesday, October 22nd. Cormark lowered their target price on shares of Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. ATB Capital cut their price target on Parkland from C$49.00 to C$46.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Canaccord Genuity Group decreased their price objective on Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, National Bankshares cut their target price on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$48.08.

Parkland Trading Down 1.6 %

Shares of Parkland stock opened at C$36.15 on Wednesday. The stock has a market capitalization of C$6.29 billion, a P/E ratio of 17.25, a P/E/G ratio of 11.79 and a beta of 1.33. Parkland has a 52-week low of C$31.68 and a 52-week 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 stock’s 50-day simple moving average is C$34.56 and its 200 day simple moving average is C$36.61.

Parkland Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.87%. Parkland’s dividend payout ratio (DPR) is presently 65.73%.

Insider Buying and Selling

In related news, Director Michael Christian Jennings bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of C$32.02 per share, for a total transaction of C$128,060.00. 20.51% of the stock is owned by company 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.