Canaccord Genuity Group Cuts Parkland (TSE:PKI) Price Target to C$45.00

Parkland (TSE:PKI) had its price objective reduced by Canaccord Genuity Group from C$47.00 to C$45.00 in a report released on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on PKI. JPMorgan Chase & Co. cut their target price on Parkland from C$54.00 to C$53.00 in a research report on Tuesday, September 17th. TD Securities cut their price objective on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. BMO Capital Markets decreased their target price on shares of Parkland from C$49.00 to C$46.00 in a report on Tuesday, October 22nd. Cormark cut their price target on shares of Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. Finally, Desjardins decreased their price objective on shares of Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$47.38.

Parkland Stock Up 1.7 %

TSE PKI opened at C$32.96 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 206.76. The company has a market cap of C$5.74 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 11.79 and a beta of 1.33. The company has a 50 day moving average of C$35.22 and a 200-day moving average of C$37.65. Parkland has a 1-year low of C$32.00 and a 1-year high of C$47.99.

Parkland Announces Dividend

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

Insider Activity

In other Parkland 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 acquired at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. 20.51% of the stock is currently owned by 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.