CIBC Cuts Parkland (TSE:PKI) Price Target to C$55.00

Parkland (TSE:PKI) had its price target decreased by CIBC from C$57.00 to C$55.00 in a research note released on Friday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. TD Securities upped their price target on shares of Parkland from C$52.00 to C$53.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. Scotiabank boosted their price target on Parkland from C$50.00 to C$60.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. National Bankshares increased their price objective on shares of Parkland from C$49.00 to C$52.00 in a research report on Monday, April 22nd. JPMorgan Chase & Co. reduced their target price on shares of Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Finally, BMO Capital Markets dropped their price target on shares of Parkland from C$57.00 to C$55.00 in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of C$51.54.

Parkland Trading Down 3.4 %

Parkland stock opened at C$40.16 on Friday. The stock has a 50-day moving average price of C$43.00 and a 200 day moving average price of C$43.70. Parkland has a 52 week low of C$30.88 and a 52 week high of C$47.99. The stock has a market cap of C$7.06 billion, a PE ratio of 15.27, a P/E/G ratio of 11.79 and a beta of 1.38. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87.

Parkland (TSE:PKI) last posted its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, beating the consensus estimate of C$0.64 by C$0.20. The company had revenue of C$7.75 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Parkland had a return on equity of 15.15% and a net margin of 1.45%. Equities research analysts predict that Parkland will post 3.302673 earnings per share for the current fiscal year.

Parkland Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, March 21st. This represents a $1.40 annualized dividend and a yield of 3.49%. This is a boost from Parkland’s previous quarterly dividend of $0.34. Parkland’s dividend payout ratio (DPR) is currently 53.23%.

Insiders Place Their Bets

In other news, Senior Officer Darren Robert Smart sold 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$44.66, for a total transaction of C$223,304.50. In related news, Senior Officer Darren Robert Smart sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of C$44.66, for a total value of C$223,304.50. Also, Senior Officer Robert Berthold Espey sold 7,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total transaction of C$328,125.00. Over the last three months, insiders have sold 42,392 shares of company stock worth $1,867,999. 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.