National Bankshares Cuts Parkland (TSE:PKI) Price Target to C$45.00

Parkland (TSE:PKI) had its target price decreased by National Bankshares from C$47.00 to C$45.00 in a research report report published on Friday, BayStreet.CA reports. National Bankshares currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. Canaccord Genuity Group lowered their price target on shares of Parkland from C$48.00 to C$47.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. TD Securities dropped their price target 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. Desjardins reduced their price objective on Parkland from C$46.00 to C$44.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Cormark decreased their price objective on Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. Finally, Royal Bank of Canada cut their target price on Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$47.38.

Parkland Stock Down 2.4 %

Shares of Parkland stock opened at C$32.18 on Friday. The stock has a market capitalization of C$5.60 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 11.79 and a beta of 1.33. Parkland has a twelve month low of C$31.88 and a twelve month high of C$47.99. 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 business’s 50 day simple moving average is C$35.22 and its 200-day simple moving average is C$37.62.

Parkland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 20th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.35%. The ex-dividend date was Thursday, September 19th. Parkland’s payout ratio is 65.73%.

Insider Activity

In related news, Director Michael Christian Jennings bought 4,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was bought at an average price of C$32.02 per share, with a total value of C$128,060.00. In other Parkland news, Director Michael Christian Jennings acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of C$32.02 per share, with a total value of C$128,060.00. Also, Senior Officer Marcel Teunissen acquired 1,000 shares of Parkland stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average cost of C$36.52 per share, with a total value of C$36,520.00. 20.51% of the stock is owned by corporate insiders.

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.