CIBC Issues Positive Forecast for Parkland (TSE:PKI) Stock Price

Parkland (TSE:PKI) had its target price increased by CIBC from C$48.00 to C$49.00 in a research note published on Wednesday morning,BayStreet.CA reports.

PKI has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on Parkland from C$54.00 to C$53.00 in a research note on Tuesday, September 17th. Desjardins cut their price target on shares of Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Canaccord Genuity Group dropped their target price on shares of Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Cormark reduced their price target on Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Parkland has a consensus rating of “Buy” and a consensus target price of C$48.08.

Parkland Trading Down 1.6 %

Shares of PKI stock opened at C$36.15 on Wednesday. The business has a 50-day moving average of C$34.56 and a 200 day moving average of C$36.61. 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 has a 1-year low of C$31.68 and a 1-year high of C$47.99. The stock has a market capitalization of C$6.29 billion, a PE ratio of 17.25, a P/E/G ratio of 11.79 and a beta of 1.33.

Parkland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th were issued 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 dividend yield of 3.87%. Parkland’s dividend payout ratio (DPR) is 65.73%.

Insider Transactions at Parkland

In other Parkland news, Director Michael Christian Jennings bought 4,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of C$32.02 per share, for a total transaction of C$128,060.00. Corporate 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.