Brokerages Set Parkland Co. (TSE:PKI) Price Target at C$43.82

Key Points

• Parkland Co. (TSE:PKI) has received an average rating of "Hold" from nine analysts, with one sell recommendation, three holds, and five buys.
• The company's recent quarterly dividend increased from $0.35 to $0.36, representing an annualized yield of 3.8%.
• Parkland's stock opened at C$38.36, down 2.0%, with a market capitalization of C$6.69 billion.

Shares of Parkland Co. (TSE:PKI - Get Free Report) have received a consensus recommendation of "Hold" from the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$43.82.

Several research firms have recently weighed in on PKI. CIBC lowered Parkland from an "outperform" rating to a "tender" rating and set a C$44.00 price objective for the company. in a research report on Monday, June 9th. Raymond James Financial lowered their price objective on shares of Parkland from C$47.00 to C$45.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Canaccord Genuity Group decreased their price target on shares of Parkland from C$45.00 to C$42.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. ATB Capital cut their price objective on shares of Parkland from C$46.00 to C$45.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. downgraded Parkland from an "overweight" rating to a "neutral" rating and reduced their target price for the company from C$54.00 to C$41.00 in a research note on Wednesday, June 11th.

Parkland Trading Up 0.2%

TSE PKI traded up C$0.07 on Thursday, reaching C$38.14. The company had a trading volume of 900,230 shares, compared to its average volume of 810,915. The firm has a market cap of C$6.65 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.39 and a quick ratio of 0.73. Parkland has a fifty-two week low of C$30.09 and a fifty-two week high of C$40.29. The business has a 50 day moving average of C$38.44 and a two-hundred day moving average of C$36.66.

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 20th were paid a $0.36 dividend. This is a positive change from Parkland's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 3.8%. Parkland's dividend payout ratio (DPR) is 100.88%.

About Parkland

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.