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

Parkland Co. (TSE:PKI - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$35.97 and traded as high as C$38.46. Parkland shares last traded at C$38.40, with a volume of 651,293 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PKI shares. Raymond James Financial lowered their price target on shares of Parkland from C$47.00 to C$45.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. TD Securities downgraded shares of Parkland from a "buy" rating to a "sell" rating and lowered their price target for the stock from C$50.00 to C$44.00 in a report on Tuesday, May 6th. Canaccord Genuity Group decreased their price objective on shares of 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. National Bankshares cut shares of Parkland from an "outperform" rating to a "tender" rating and decreased their price objective for the stock from C$42.00 to C$41.00 in a research report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. cut shares of Parkland from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from C$54.00 to C$41.00 in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$44.46.

Parkland Price Performance

The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 199.87. The business's 50-day simple moving average is C$38.56 and its 200 day simple moving average is C$35.97. The firm has a market capitalization of C$6.70 billion, a P/E ratio of 27.67, a PEG ratio of 11.79 and a beta of 1.33.

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 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 yield of 3.75%. Parkland's dividend payout ratio (DPR) 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.