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

Parkland Co. (TSE:PKI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$35.54 and traded as high as C$38.04. Parkland shares last traded at C$37.70, with a volume of 1,637,405 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PKI. Canaccord Genuity Group lowered their price target on Parkland from C$45.00 to C$42.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. CIBC cut Parkland from an "outperform" rating to a "tender" rating and set a C$44.00 price target on the stock. in a research note on Monday, June 9th. JPMorgan Chase & Co. lowered shares of 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 research note on Wednesday, June 11th. BMO Capital Markets lowered Parkland from a "strong-buy" rating to a "hold" rating in a report on Monday, June 2nd. Finally, TD Securities cut shares of 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$44.54.

Parkland Trading Up 0.8%

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 business's 50-day simple moving average is C$37.12 and its 200-day simple moving average is C$35.59. The company has a market cap of C$6.70 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 11.79 and a beta of 1.33.

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 paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.75%. This is a positive change from Parkland's previous quarterly dividend of $0.35. Parkland's dividend payout ratio (DPR) is presently 100.88%.

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.