Parkland (TSE:PKI) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Parkland's shares recently surpassed their 200-day moving average of C$36.80, trading as high as C$38.71, which may signal a potential investment opportunity.
• Several financial institutions have adjusted their price targets for Parkland, with analysts rating it predominantly as a "Hold" based on a consensus price target of C$43.73.
• The company announced a quarterly dividend increase to $0.36 per share, providing a dividend yield of 3.7% with a payout ratio of 100.88%.

Shares of Parkland Co. (TSE:PKI - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$36.80 and traded as high as C$38.71. Parkland shares last traded at C$38.63, with a volume of 589,157 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PKI. Raymond James Financial reduced their price target on shares of Parkland from C$45.00 to C$44.00 and set an "outperform" rating for the company in a research note on Tuesday. CIBC lowered shares of Parkland from an "outperform" rating to a "tender" rating and set a C$44.00 price target for the company. in a research note on Monday, June 9th. BMO Capital Markets lowered shares of Parkland from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 2nd. ATB Capital dropped their target price on 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, Canaccord Genuity Group dropped their target price on Parkland from C$45.00 to C$42.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$43.73.

Parkland Price Performance

The firm's 50-day moving average is C$38.40 and its 200-day moving average is C$36.80. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.39 and a quick ratio of 0.73. The company has a market capitalization of C$6.74 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33.

Parkland Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 20th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.7%. This is a positive change from Parkland's previous quarterly dividend of $0.35. Parkland's payout ratio is 100.88%.

Parkland Company Profile

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.

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