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

Key Points

• Parkland's stock (TSE:PKI) recently crossed above its 200-day moving average, reaching a high of C$38.42, with its last trade at C$38.35.
• The company is facing mixed ratings from analysts, with five analysts rating the stock as a Buy, three as Hold, and one as Sell, while the average price target is C$43.73.
• Parkland announced a quarterly dividend of $0.36 per share, resulting in an annualized dividend of $1.44 and a dividend yield of 3.8%.

Shares of Parkland Co. (TSE:PKI - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$37.50 and traded as high as C$38.42. Parkland shares last traded at C$38.35, with a volume of 1,197,774 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on PKI. Scotiabank cut shares of Parkland from a "strong-buy" rating to a "hold" rating and set a C$44.00 target price on the stock. in a report on Wednesday, June 25th. National Bankshares raised their target price on shares of Parkland from C$41.00 to C$42.00 and gave the stock a "tender" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. cut shares of Parkland from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from C$54.00 to C$41.00 in a report on Wednesday, June 11th. Raymond James Financial decreased their price target on shares of Parkland from C$45.00 to C$44.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Finally, CIBC downgraded shares of Parkland from an "outperform" rating to a "tender" rating and set a C$44.00 price target on the stock. in a research report on Monday, June 9th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$43.73.

Parkland Stock Up 0.1%

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 firm has a market capitalization of C$6.69 billion, a P/E ratio of 22.69, a P/E/G ratio of 11.79 and a beta of 0.15. The company's 50-day simple moving average is C$38.56 and its two-hundred day simple moving average is C$37.50.

Parkland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.8%. Parkland's payout ratio is 84.02%.

About Parkland

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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