Parkland (TSE:PKI) Price Target Raised to C$52.00

Parkland (TSE:PKI) had its price objective raised by National Bankshares from C$49.00 to C$52.00 in a report released on Monday morning, BayStreet.CA reports.

A number of other research firms have also recently weighed in on PKI. Royal Bank of Canada reduced their price target on Parkland from C$54.00 to C$50.00 in a report on Monday, April 15th. TD Securities upped their price target on Parkland from C$52.00 to C$53.00 and gave the stock a buy rating in a report on Tuesday, February 6th. BMO Capital Markets reduced their price target on Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. Scotiabank upped their price target on Parkland from C$50.00 to C$60.00 and gave the stock an outperform rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. reduced their price target on Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Parkland presently has an average rating of Moderate Buy and a consensus price target of C$51.69.

Parkland Stock Performance

Shares of PKI stock opened at C$42.76 on Monday. The stock has a market cap of C$7.52 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. The business has a 50-day simple moving average of C$43.68 and a 200-day simple moving average of C$43.58. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87. Parkland has a 52-week low of C$30.29 and a 52-week high of C$47.99.

Parkland (TSE:PKI) last issued its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.64 by C$0.20. The business had revenue of C$7.75 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Parkland had a return on equity of 15.15% and a net margin of 1.45%. On average, equities analysts expect that Parkland will post 3.302673 EPS for the current year.

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.35 per share. This is a positive change from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Thursday, March 21st. Parkland’s payout ratio is 53.23%.

Insiders Place Their Bets

In other news, Senior Officer Robert Berthold Espey sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total value of C$484,000.00. In other news, Senior Officer Robert Berthold Espey sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total value of C$484,000.00. Also, Senior Officer Darren Robert Smart sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total value of C$43,000.00. In the last three months, insiders sold 42,392 shares of company stock worth $1,867,999. Corporate insiders own 20.51% of the company’s stock.

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.