Parkland (TSE:PKI) Price Target Cut to C$53.00 by Analysts at JPMorgan Chase & Co.

Parkland (TSE:PKI) had its price target reduced by JPMorgan Chase & Co. from C$54.00 to C$53.00 in a research note released on Tuesday, BayStreet.CA reports.

Several other research firms have also recently commented on PKI. TD Securities boosted their target price on Parkland from C$53.00 to C$55.00 and gave the stock a buy rating in a research report on Friday, August 2nd. BMO Capital Markets dropped their price target on Parkland from C$52.00 to C$49.00 in a research note on Thursday, August 1st. ATB Capital dropped their price target on Parkland from C$54.00 to C$52.00 and set an outperform rating for the company in a research note on Friday, August 2nd. Desjardins dropped their price target on Parkland from C$48.00 to C$46.00 and set a buy rating for the company in a research note on Friday, August 2nd. Finally, Cormark dropped their price target on Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of C$50.38.

Parkland Price Performance

Parkland stock opened at C$35.13 on Tuesday. Parkland has a 52 week low of C$34.50 and a 52 week high of C$47.99. The business has a 50-day simple moving average of C$36.50 and a 200 day simple moving average of C$39.46. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 206.76. The stock has a market cap of C$6.12 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 11.79 and a beta of 1.34.

Parkland (TSE:PKI) last posted its earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping the consensus estimate of C$0.82 by C$0.06. Parkland had a return on equity of 12.26% and a net margin of 1.23%. The business had revenue of C$7.50 billion during the quarter, compared to analysts’ expectations of C$7.92 billion.

Parkland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.99%. Parkland’s dividend payout ratio (DPR) is 65.73%.

Insiders Place Their Bets

In related news, Senior Officer Marcel Teunissen purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought 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.

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.