Parkland (TSE:PKI) Given New C$53.00 Price Target at JPMorgan Chase & Co.

Parkland (TSE:PKI) had its price target decreased by JPMorgan Chase & Co. from C$54.00 to C$53.00 in a research note published on Tuesday morning, BayStreet.CA reports.

Several other equities research analysts also recently weighed in on PKI. TD Securities increased their target price on shares of Parkland from C$53.00 to C$55.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Cormark decreased their target price on shares of Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. Desjardins decreased their target price on shares of Parkland from C$48.00 to C$46.00 and set a buy rating for the company in a research note on Friday, August 2nd. ATB Capital decreased their target price on shares of Parkland from C$54.00 to C$52.00 and set an outperform rating for the company in a research note on Friday, August 2nd. Finally, CIBC decreased their target price on shares of Parkland from C$55.00 to C$54.00 in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Parkland currently has a consensus rating of Moderate Buy and a consensus target price of C$50.38.

Parkland Stock Performance

Shares of PKI stock opened at C$35.50 on Tuesday. The stock’s 50-day moving average is C$36.43 and its two-hundred day moving average is C$39.31. The firm has a market cap of C$6.18 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 11.79 and a beta of 1.34. Parkland has a 1 year low of C$34.50 and a 1 year high of C$47.99. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33.

Parkland (TSE:PKI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.82 by C$0.06. The company had revenue of C$7.50 billion for the quarter, compared to analyst estimates of C$7.92 billion. Parkland had a return on equity of 12.26% and a net margin of 1.23%.

Parkland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.94%. Parkland’s payout ratio is 65.73%.

Insider Activity

In related news, Senior Officer Marcel Teunissen purchased 1,000 shares of Parkland stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of C$36.52 per share, for a total transaction 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.