CIBC Issues Positive Forecast for Parkland (TSE:PKI) Stock Price

Parkland (TSE:PKI) had its price objective lifted by CIBC from C$48.00 to C$49.00 in a report released on Wednesday morning,BayStreet.CA reports.

A number of other research firms also recently issued reports on PKI. JPMorgan Chase & Co. decreased their price target on shares of Parkland from C$54.00 to C$53.00 in a research note on Tuesday, September 17th. Cormark decreased their price target on shares of Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. Royal Bank of Canada cut their target price on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Securities reduced their price target on Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Desjardins lowered their target price on shares of Parkland from C$46.00 to C$44.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$48.08.

Parkland Trading Up 5.1 %

Shares of PKI opened at C$36.07 on Wednesday. Parkland has a 1 year low of C$31.68 and a 1 year high of C$47.99. The company has a 50 day simple moving average of C$34.49 and a two-hundred day simple moving average of C$36.63. 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$6.28 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33.

Parkland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 20th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Thursday, September 19th. Parkland’s dividend payout ratio is currently 65.73%.

Insider Activity at Parkland

In related news, Director Michael Christian Jennings bought 4,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were bought at an average price of C$32.02 per share, with a total value of C$128,060.00. 20.51% of the stock is owned by company insiders.

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.