ATB Capital Issues Pessimistic Forecast for Parkland (TSE:PKI) Stock Price

Parkland (TSE:PKI) had its target price cut by ATB Capital from C$49.00 to C$46.00 in a research report released on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms have also weighed in on PKI. Desjardins dropped their price target on Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets dropped their target price on Parkland from C$49.00 to C$46.00 in a report on Tuesday, October 22nd. Royal Bank of Canada reduced their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Parkland from C$54.00 to C$53.00 in a research report on Tuesday, September 17th. Finally, Canaccord Genuity Group dropped their price objective on shares of Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$47.38.

Parkland Stock Down 2.4 %

PKI stock opened at C$32.18 on Friday. Parkland has a 52-week low of C$31.88 and a 52-week high of C$47.99. The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73. The firm has a market capitalization of C$5.60 billion, a P/E ratio of 15.11, a P/E/G ratio of 11.79 and a beta of 1.33. The company’s 50 day simple moving average is C$35.22 and its 200-day simple moving average is C$37.62.

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 given 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 4.35%. Parkland’s payout ratio is currently 65.73%.

Insider Activity

In other news, Director Michael Christian Jennings acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of C$32.02 per share, with a total value of C$128,060.00. In other news, Director Michael Christian Jennings bought 4,000 shares of the company’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, for a total transaction of C$128,060.00. Also, Senior Officer Marcel Teunissen bought 1,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost 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.