ATB Capital Cuts Parkland (TSE:PKI) Price Target to C$52.00

Parkland (TSE:PKI) had its target price lowered by ATB Capital from C$54.00 to C$52.00 in a report released on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other analysts also recently commented on the stock. National Bankshares decreased their target price on shares of Parkland from C$52.00 to C$49.00 and set an outperform rating for the company in a research report on Tuesday, July 23rd. Desjardins decreased their price objective on shares of Parkland from C$51.00 to C$48.00 and set a buy rating for the company in a report on Tuesday, July 23rd. BMO Capital Markets decreased their price objective on shares of Parkland from C$52.00 to C$49.00 in a report on Thursday, August 1st. Royal Bank of Canada decreased their price objective on shares of Parkland from C$50.00 to C$49.00 in a report on Wednesday, July 24th. Finally, TD Securities upped their price objective on shares of Parkland from C$53.00 to C$55.00 and gave the stock a buy rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of C$50.46.

Parkland Stock Performance

PKI stock opened at C$36.00 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.37 and a debt-to-equity ratio of 210.21. The company has a market capitalization of C$6.29 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 11.79 and a beta of 1.37. Parkland has a 12 month low of C$35.00 and a 12 month high of C$47.99. The firm has a 50 day moving average of C$38.15 and a two-hundred day moving average of C$41.48.

Parkland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 21st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Thursday, June 20th. Parkland’s dividend payout ratio is 64.52%.

Insider Activity

In other Parkland news, Senior Officer Marcel Teunissen acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average price of C$40.35 per share, for a total transaction of C$40,350.00. Corporate insiders own 20.51% of the company’s stock.

Parkland Company Profile

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.