Parkland (TSE:PKI) Price Target Raised to C$52.00

Parkland (TSE:PKI) had its target price lifted by National Bankshares from C$49.00 to C$52.00 in a research note published on Monday, BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on the stock. Scotiabank lifted their price target on shares of Parkland from C$50.00 to C$60.00 and gave the company an outperform rating in a research report on Thursday, February 29th. BMO Capital Markets reduced their price target on shares of Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. Royal Bank of Canada reduced their price target on shares of Parkland from C$54.00 to C$50.00 in a research report on Monday, April 15th. JPMorgan Chase & Co. cut their price objective on Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Finally, TD Securities upped their target price on Parkland from C$52.00 to C$53.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of C$51.69.

Parkland Price Performance

Shares of TSE:PKI opened at C$42.76 on Monday. The company has a 50-day moving average price of C$43.68 and a 200 day moving average price of C$43.58. Parkland has a 52 week low of C$30.29 and a 52 week high of C$47.99. 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 has a market cap of C$7.52 billion, a P/E ratio of 16.26, a PEG ratio of 11.79 and a beta of 1.38.

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

Parkland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This is an increase from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.27%. Parkland’s payout ratio is 53.23%.

Insider Buying and Selling at Parkland

In other Parkland news, Senior Officer Robert Berthold Espey sold 11,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was 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 2,500 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$44.00, for a total value of C$110,000.00. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the business’s 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 the last three months, insiders sold 42,392 shares of company stock worth $1,867,999. 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.