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

Parkland (TSE:PKI) had its price objective trimmed by ATB Capital from C$49.00 to C$46.00 in a research report report published on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently issued reports on PKI. TD Securities dropped their price objective on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Canaccord Genuity Group dropped their target price on Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a research report on Friday. CIBC cut their price target on Parkland from C$50.00 to C$48.00 and set an “outperform” rating on the stock in a report on Friday. Cormark decreased their price objective on Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. Finally, Scotiabank cut their target price on Parkland from C$60.00 to C$52.00 and set an “outperform” rating on the stock in a research note on Friday. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.38.

Parkland Stock Performance

PKI stock opened at C$32.96 on Friday. Parkland has a 1-year low of C$32.00 and a 1-year high of C$47.99. The business has a 50-day moving average price of C$35.22 and a 200 day moving average price of C$37.65. The company has a market capitalization of C$5.74 billion, a P/E ratio of 15.47, a PEG 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 Dividend Announcement

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

Insider Transactions at Parkland

In other news, Senior Officer Marcel Teunissen bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of C$36.52 per share, with a total value of C$36,520.00. 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.