Parkland (TSE:PKI) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Parkland Co. (TSE:PKI - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Analyst Upgrades and Downgrades

PKI has been the subject of a number of recent analyst reports. TD Securities lowered Parkland from a "buy" rating to a "sell" rating and lowered their price target for the company from C$50.00 to C$44.00 in a research report on Tuesday, May 6th. Raymond James Financial lowered their price target on 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. National Bankshares lowered Parkland from an "outperform" rating to a "tender" rating and lowered their price target for the company from C$42.00 to C$41.00 in a research report on Wednesday. Scotiabank lowered Parkland from an "outperform" rating to a "sector perform" rating and set a C$44.00 price target for the company. in a research report on Wednesday. Finally, BMO Capital Markets lowered Parkland from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$44.46.

Parkland Price Performance

The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.39. The stock has a market cap of C$6.57 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33. The firm has a 50-day moving average price of C$37.57 and a 200-day moving average price of C$35.63.

Parkland Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 20th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.82%. This is a positive change from Parkland's previous quarterly dividend of $0.35. Parkland's dividend payout ratio (DPR) 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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