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

Key Points

• Parkland's shares have surpassed their 200-day moving average, indicating potential growth, with a recent trade price of C$38.89.
• Multiple analysts have downgraded Parkland's stock, with a new consensus price target of C$44.46, categorizing it as a Moderate Buy overall.
• The company increased its quarterly dividend to $0.36 per share, reflecting a dividend yield of 3.70% and a payout ratio of 100.88%.

Shares of Parkland Co. (TSE:PKI - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$36.45 and traded as high as C$38.90. Parkland shares last traded at C$38.89, with a volume of 814,167 shares trading hands.

Wall Street Analyst Weigh In

PKI has been the topic of several recent research reports. BMO Capital Markets downgraded Parkland from a "strong-buy" rating to a "hold" rating in a report on Monday, June 2nd. National Bankshares downgraded Parkland from an "outperform" rating to a "tender" rating and cut their price target for the stock from C$42.00 to C$41.00 in a report on Wednesday, June 25th. TD Securities downgraded Parkland from a "buy" rating to a "sell" rating and cut their price target for the stock from C$50.00 to C$44.00 in a report on Tuesday, May 6th. 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 report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. downgraded Parkland from an "overweight" rating to a "neutral" rating and cut their price target for the stock from C$54.00 to C$41.00 in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$44.46.

Parkland Trading Up 0.9%

The stock has a market capitalization of C$6.84 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 11.79 and a beta of 1.33. 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 business has a 50-day moving average of C$38.40 and a 200-day moving average of C$36.47.

Parkland Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 20th were given a $0.36 dividend. 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 dividend yield of 3.67%. Parkland's dividend 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.