Parkland (TSE:PKI) Hits New 52-Week Low on Analyst Downgrade

Parkland Co. (TSE:PKI)’s stock price reached a new 52-week low on Monday after ATB Capital lowered their price target on the stock from C$49.00 to C$46.00. ATB Capital currently has an outperform rating on the stock. Parkland traded as low as C$31.88 and last traded at C$31.89, with a volume of 198087 shares. The stock had previously closed at C$32.96.

PKI has been the subject of a number of other research reports. National Bankshares cut 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 note on Friday. Canaccord Genuity Group cut 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 research note on Friday. Raymond James lowered their price target on Parkland from C$55.00 to C$47.00 in a research report on Friday, October 25th. Scotiabank cut their price objective on Parkland from C$60.00 to C$52.00 and set an “outperform” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their target price on Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Parkland has a consensus rating of “Moderate Buy” and an average price target of C$47.38.

Insider Buying and Selling at Parkland

In other Parkland news, Director Michael Christian Jennings bought 4,000 shares of the stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of C$32.02 per share, with a total value of C$128,060.00. In related news, Senior Officer Marcel Teunissen purchased 1,000 shares of the firm’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. Also, Director Michael Christian Jennings bought 4,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of C$32.02 per share, with a total value of C$128,060.00. Insiders own 20.51% of the company’s stock.

Parkland Stock Down 2.4 %

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 capitalization of C$5.60 billion, a P/E ratio of 15.11, a PEG ratio of 11.79 and a beta of 1.33. The firm has a 50 day simple moving average of C$35.22 and a two-hundred day simple moving average of C$37.62.

Parkland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were issued a $0.35 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.35%. Parkland’s dividend payout ratio (DPR) is currently 65.73%.

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.