ATB Capital Cuts Parkland (TSE:PKI) Price Target to C$46.00

Parkland (TSE:PKI) had its target price cut by ATB Capital from C$49.00 to C$46.00 in a research note published on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently commented on PKI. Raymond James lowered their price objective on shares of Parkland from C$55.00 to C$47.00 in a research note on Friday, October 25th. National Bankshares dropped their price objective on shares of Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research note on Friday. TD Securities cut their price objective on Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Canaccord Genuity Group lowered their target price on Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a report on Friday. Finally, Scotiabank cut their price target on Parkland from C$60.00 to C$52.00 and set an “outperform” rating for the company in a report on Friday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.38.

Parkland Price Performance

Parkland stock traded up C$0.56 during mid-day trading on Friday, reaching C$32.96. The company had a trading volume of 516,712 shares, compared to its average volume of 526,856. The stock’s 50-day simple moving average is C$35.22 and its 200-day simple moving average is C$37.68. The company has a market capitalization of C$5.74 billion, a P/E ratio of 15.47, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73. Parkland has a 1 year low of C$32.00 and a 1 year high of C$47.99.

Parkland (TSE:PKI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.82 by C$0.06. The firm had revenue of C$7.50 billion during the quarter, compared to analysts’ expectations of C$7.92 billion. Parkland had a return on equity of 12.26% and a net margin of 1.23%. On average, equities analysts predict that Parkland will post 3.6022267 EPS for the current year.

Parkland Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Thursday, September 19th. Parkland’s payout ratio is 65.73%.

Insider Activity at Parkland

In related news, Senior Officer Marcel Teunissen purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of C$36.52 per share, for a total transaction of C$36,520.00. Company 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.