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

Parkland (TSE:PKI) had its price target 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 research analysts have also recently commented on PKI. TD Securities upped their target price on shares of Parkland from C$52.00 to C$53.00 and gave the company a buy rating in a research report on Tuesday, February 6th. BMO Capital Markets decreased their price objective on shares of Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. Scotiabank lifted their target price on shares of Parkland from C$50.00 to C$60.00 and gave the company an outperform rating in a report on Thursday, February 29th. Royal Bank of Canada decreased their price target on Parkland from C$54.00 to C$50.00 in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. dropped their price objective on Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Parkland currently has an average rating of Moderate Buy and a consensus price target of C$51.54.

Parkland Stock Down 3.4 %

Shares of TSE PKI opened at C$40.16 on Friday. Parkland has a 1 year low of C$30.88 and a 1 year high of C$47.99. The company has a market capitalization of C$7.06 billion, a P/E ratio of 15.27, a P/E/G ratio of 11.79 and a beta of 1.38. The company has a 50 day simple moving average of C$43.00 and a 200-day simple moving average of C$43.67. 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 (TSE:PKI) last posted its earnings results on Tuesday, February 27th. The company reported C$0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.64 by C$0.20. Parkland had a return on equity of 15.15% and a net margin of 1.45%. The company had revenue of C$7.75 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. On average, equities research analysts predict that Parkland will post 3.302673 earnings per share for the current year.

Parkland Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were issued a $0.35 dividend. This is a boost from Parkland’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.40 annualized dividend and a yield of 3.49%. Parkland’s dividend payout ratio (DPR) is 53.23%.

Insider Buying and Selling

In other Parkland news, Senior Officer Robert Berthold Espey sold 11,000 shares of the stock in a transaction that occurred 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. In other news, Senior Officer Darren Robert Smart sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$43.00, for a total transaction of C$43,000.00. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the company’s stock in a transaction that occurred 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 42,392 shares of company stock worth $1,867,999 over the last 90 days. 20.51% of the stock is 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.