Parkland (TSE:PKI) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Parkland's stock has recently crossed above its 200-day moving average, reaching prices as high as C$38.78, which may indicate bullish momentum in the market.
• Several analysts have downgraded ratings on Parkland, with Scotiabank and JPMorgan reducing their price targets significantly, reflecting a cautious outlook for the company's stock.
• The company declared a quarterly dividend of $0.36 per share, slightly increased from the previous $0.35, representing a yield of 3.7% and highlighting Parkland's commitment to returning value to shareholders.

Parkland Co. (TSE:PKI - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$37.03 and traded as high as C$38.78. Parkland shares last traded at C$38.60, with a volume of 373,337 shares.

Analyst Upgrades and Downgrades

PKI has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut Parkland from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from C$54.00 to C$41.00 in a research note on Wednesday, June 11th. CIBC cut Parkland from an "outperform" rating to a "tender" rating and set a C$44.00 target price for the company. in a research note on Monday, June 9th. 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. National Bankshares increased their price target on Parkland from C$41.00 to C$42.00 and gave the stock a "tender" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial cut their price target on Parkland from C$45.00 to C$44.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of C$43.73.

Parkland Stock Up 0.5%

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 stock has a fifty day moving average price of C$38.43 and a two-hundred day moving average price of C$37.14. The company has a market cap of C$6.76 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33.

Parkland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 20th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from Parkland's previous quarterly dividend of $0.35. Parkland's dividend payout ratio (DPR) is currently 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.