Parkland (TSE:PKI) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Shares of Parkland Co. (TSE:PKI - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$35.63 and traded as high as C$38.00. Parkland shares last traded at C$37.67, with a volume of 827,956 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PKI shares. JPMorgan Chase & Co. downgraded Parkland from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from C$54.00 to C$41.00 in a research report on Wednesday, June 11th. Scotiabank downgraded Parkland from a "strong-buy" rating to a "hold" rating and set a C$44.00 price target on the stock. in a research report on Wednesday. TD Securities downgraded Parkland from a "buy" rating to a "sell" rating and reduced their price target for the stock from C$50.00 to C$44.00 in a research report on Tuesday, May 6th. CIBC downgraded Parkland from an "outperform" rating to a "tender" rating and set a C$44.00 target price on the stock. in a research report on Monday, June 9th. Finally, ATB Capital cut 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$44.46.

Parkland Stock Performance

The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87. The stock has a market capitalization of C$6.63 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 11.79 and a beta of 1.33. The firm has a 50-day moving average of C$37.79 and a 200-day moving average of C$35.67.

Parkland Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 20th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.79%. This is a positive change from Parkland's previous quarterly dividend of $0.35. Parkland's dividend payout ratio is presently 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.