Parkland (TSE:PKI) Reaches New 1-Year High - Time to Buy?

Key Points

• Parkland shares recently reached a new 52-week high of C$40.41 during trading, indicating strong market performance.
• Analysts have mixed opinions: National Bankshares raised their target to C$42.00, while Scotiabank downgraded their rating to Hold with a target of C$44.00.
• The company declared a quarterly dividend of $0.36, resulting in an annual yield of 3.6% with a payout ratio of 84.02%.

Parkland Co. (TSE:PKI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$40.41 and last traded at C$40.41, with a volume of 48158 shares changing hands. The stock had previously closed at C$40.04.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PKI. National Bankshares upped their price target on shares of Parkland from C$41.00 to C$42.00 and gave the stock a "tender" rating in a research report on Wednesday, August 6th. Raymond James Financial cut their price target on shares of Parkland from C$45.00 to C$44.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Finally, Scotiabank cut Parkland from a "strong-buy" rating to a "hold" rating and set a C$44.00 target price for the company. in a research note on Wednesday, June 25th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Parkland presently has a consensus rating of "Hold" and an average price target of C$43.44.

Parkland Price Performance

The firm has a 50 day moving average price of C$38.74 and a two-hundred day moving average price of C$37.81. The company has a market cap of C$7.04 billion, a P/E ratio of 23.88, a P/E/G ratio of 11.79 and a beta of 0.03. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.6%. Parkland's payout ratio is currently 84.02%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.