Parkland (TSE:PKI) Cut to Tender at CIBC

CIBC lowered shares of Parkland (TSE:PKI) from an outperform rating to a tender rating in a research note released on Monday morning,BayStreet.CA reports. They currently have C$44.00 price objective on the stock.

PKI has been the topic of several other research reports. BMO Capital Markets downgraded shares of Parkland from a “strong-buy” rating to a “hold” rating in a report on Monday, June 2nd. Raymond James reduced their price objective on shares of Parkland from C$47.00 to C$45.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Canaccord Genuity Group reduced their price objective on shares of Parkland from C$45.00 to C$42.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. TD Securities cut shares of Parkland from a “buy” rating to a “sell” rating and reduced their price objective for the company from C$50.00 to C$44.00 in a research report on Tuesday, May 6th. Finally, Scotiabank reduced their price objective on shares of Parkland from C$52.00 to C$44.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Parkland currently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.54.

Parkland Price Performance

Shares of TSE:PKI opened at C$38.16 on Monday. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.39 and a quick ratio of 0.73. Parkland has a 1-year low of C$30.09 and a 1-year high of C$40.29. The company has a market capitalization of C$6.65 billion, a P/E ratio of 27.50, a P/E/G ratio of 11.79 and a beta of 1.33. The firm’s 50 day simple moving average is C$36.37 and its two-hundred day simple moving average is C$35.49.

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 20th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.77%. This is an increase from Parkland’s previous quarterly dividend of $0.35. Parkland’s payout ratio is presently 100.88%.

Insider Transactions at Parkland

In other Parkland news, Senior Officer Darren Robert Smart sold 5,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$36.76, for a total value of C$183,800.00. Insiders own 20.51% of the company’s stock.

Parkland Company Profile

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.