Parkland (TSE:PKI) PT Lowered to C$55.00 at CIBC

Parkland (TSE:PKI) had its price target trimmed by CIBC from C$57.00 to C$55.00 in a research note released on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on the stock. Scotiabank lifted their price objective 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. TD Securities increased their price target on 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 lowered their price target on Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. Royal Bank of Canada decreased their target price on shares of Parkland from C$54.00 to C$50.00 in a research note on Monday, April 15th. Finally, National Bankshares increased their price target on shares of Parkland from C$49.00 to C$52.00 in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of C$51.54.

Parkland Trading Up 1.1 %

Shares of TSE PKI opened at C$40.61 on Friday. Parkland has a twelve month low of C$32.14 and a twelve month high of C$47.99. The stock has a market cap of C$7.14 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 11.79 and a beta of 1.38. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87. The company’s fifty day moving average is C$42.86 and its 200-day moving average is C$43.70.

Parkland (TSE:PKI) last announced its earnings results on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, topping the consensus estimate of C$0.64 by C$0.20. The firm had revenue of C$7.75 billion for the quarter, compared to the consensus estimate of C$8.41 billion. Parkland had a net margin of 1.45% and a return on equity of 15.15%. Equities research analysts predict that Parkland will post 3.302673 EPS for the current year.

Parkland Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, March 21st. This represents a $1.40 annualized dividend and a yield of 3.45%. This is a boost from Parkland’s previous quarterly dividend of $0.34. Parkland’s dividend payout ratio (DPR) is currently 53.23%.

Insider Buying and Selling at Parkland

In other news, Senior Officer Robert Berthold Espey sold 11,000 shares of Parkland stock in a transaction 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 Parkland news, Senior Officer Darren Robert Smart sold 5,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$44.66, for a total value of C$223,304.50. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the firm’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. Over the last three months, insiders have sold 42,392 shares of company stock valued at $1,867,999. 20.51% of the stock is currently owned by company insiders.

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.