Analysts Set Parkland Co. (TSE:PKI) Price Target at C$44.54

Shares of Parkland Co. (TSE:PKI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$44.54.

PKI has been the subject of a number of recent research reports. BMO Capital Markets cut shares of Parkland from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 2nd. CIBC cut shares of Parkland from an "outperform" rating to a "tender" rating and set a C$44.00 target price for the company. in a research report on Monday, June 9th. JPMorgan Chase & Co. cut shares of Parkland from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from C$54.00 to C$41.00 in a research report on Wednesday, June 11th. TD Securities cut shares of Parkland from a "buy" rating to a "sell" rating and cut their price objective for the stock from C$50.00 to C$44.00 in a research report on Tuesday, May 6th. Finally, Raymond James Financial cut 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 report on Thursday, April 17th.

Parkland Price Performance

Shares of TSE PKI traded up C$0.14 during mid-day trading on Wednesday, reaching C$38.49. The company's stock had a trading volume of 121,997 shares, compared to its average volume of 882,333. The stock has a 50-day moving average of C$37.12 and a two-hundred day moving average of C$35.59. The stock has a market capitalization of C$6.71 billion, a P/E ratio of 27.73, 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 quick ratio of 0.73 and a current ratio of 1.39. Parkland has a 1-year low of C$30.09 and a 1-year high of C$40.29.

Parkland Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 20th will be given a dividend of $0.36 per share. This is a boost from Parkland's previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.74%. Parkland's dividend payout ratio (DPR) is currently 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.