Parkland (TSE:PKI) Given New C$52.00 Price Target at Scotiabank

Parkland (TSE:PKI) had its target price reduced by Scotiabank from C$60.00 to C$52.00 in a research report report published on Friday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on PKI. Desjardins reduced their price target on Parkland from C$46.00 to C$44.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets cut their price objective on shares of Parkland from C$49.00 to C$46.00 in a research report on Tuesday, October 22nd. TD Securities decreased their target price on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. CIBC dropped their target price on shares of Parkland from C$50.00 to C$48.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group reduced their price target on shares of Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.38.

Parkland Stock Performance

Parkland stock opened at C$32.96 on Friday. The stock’s 50 day moving average is C$35.22 and its 200 day moving average is 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. Parkland has a twelve month low of C$32.00 and a twelve month high of C$47.99. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 206.76.

Parkland Announces Dividend

The business also recently announced 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 of this dividend was Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a yield of 4.25%. Parkland’s dividend payout ratio is presently 65.73%.

Insider Activity

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