Brokerages Set Parkland Co. (TSE:PKI) Price Target at C$51.46

Shares of Parkland Co. (TSE:PKI) have received an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$51.69.

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Scotiabank lifted 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. BMO Capital Markets cut their price objective on shares of 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 report on Monday, April 15th. Finally, National Bankshares raised their price target on shares of Parkland from C$49.00 to C$52.00 in a report on Monday.

Parkland Stock Performance

TSE:PKI opened at C$42.71 on Friday. The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.29. The stock has a market capitalization of C$7.51 billion, a PE ratio of 16.24, a P/E/G ratio of 11.79 and a beta of 1.38. Parkland has a fifty-two week low of C$30.29 and a fifty-two week high of C$47.99. The company has a fifty day moving average of C$43.68 and a two-hundred day moving average of C$43.58.

Parkland (TSE:PKI) last announced its earnings results on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, beating analysts’ consensus estimates of C$0.64 by C$0.20. Parkland had a return on equity of 15.15% and a net margin of 1.45%. The business had revenue of C$7.75 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. As a group, research analysts forecast that Parkland will post 3.302673 earnings per share for the current fiscal year.

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.28%. This is a positive change from Parkland’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 21st. Parkland’s dividend payout ratio (DPR) is presently 53.23%.

Insider Activity at Parkland

In other news, Senior Officer Darren Robert Smart sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$44.66, for a total transaction of C$223,304.50. In related news, Senior Officer Robert Berthold Espey sold 7,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total value of C$328,125.00. Also, Senior Officer Darren Robert Smart sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$44.66, for a total value of C$223,304.50. Insiders have sold 42,392 shares of company stock valued at $1,867,999 over the last quarter. 20.51% of the stock is owned by insiders.

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.