Parkland (TSE:PKI) Hits New 12-Month Low After Analyst Downgrade

Parkland Co. (TSE:PKI)’s stock price hit a new 52-week low during trading on Monday after ATB Capital lowered their price target on the stock from C$49.00 to C$46.00. ATB Capital currently has an outperform rating on the stock. Parkland traded as low as C$31.88 and last traded at C$31.89, with a volume of 198087 shares traded. The stock had previously closed at C$32.96.

A number of other analysts also recently commented on PKI. Canaccord Genuity Group dropped their price objective on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a report on Friday. CIBC lowered their price target on Parkland from C$50.00 to C$48.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets lowered their price target on Parkland from C$49.00 to C$46.00 in a report on Tuesday, October 22nd. National Bankshares lowered their price target on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a report on Friday. Finally, Royal Bank of Canada lowered their price target on Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$47.38.

Insiders Place Their Bets

In other news, Senior Officer Marcel Teunissen acquired 1,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. Corporate insiders own 20.51% of the company’s stock.

Parkland Stock Performance

The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73. The firm has a market cap of C$5.56 billion, a P/E ratio of 15.11, a PEG ratio of 11.79 and a beta of 1.33. The stock’s 50 day moving average is C$35.22 and its two-hundred day moving average is C$37.62.

Parkland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.40 annualized dividend and a dividend yield of 4.38%. Parkland’s dividend payout ratio (DPR) is currently 65.73%.

Parkland Company Profile

Parkland Corporation operates food and convenience stores in Canada, the United States, and internationally. The company’s Canada segment owns, supplies, and supports a coast-to-coast network of retail gas stations, electronic vehicle charging stations, frozen food retail locations, convenience stores, cardlock sites, bulk fuel, propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers; transports and distributes fuel through ships, rail, and highway carriers; and stores fuel in terminals and other owned and leased facilities, as well as engages in the low-carbon activities.