JPMorgan Chase & Co. Boosts Parkland (TSE:PKI) Price Target to C$56.00

Parkland (TSE:PKI) had its target price increased by JPMorgan Chase & Co. from C$51.00 to C$56.00 in a report published on Monday morning, BayStreet.CA reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the stock. Scotiabank boosted their price objective on shares of Parkland from C$50.00 to C$60.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Royal Bank of Canada lowered shares of Parkland from an outperform rating to a sector perform rating and set a C$54.00 price target on the stock. in a research note on Monday, February 5th. National Bankshares decreased their price target on shares of Parkland from C$50.00 to C$49.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. CIBC upped their price target on shares of Parkland from C$50.00 to C$57.00 and gave the company an outperform rating in a research note on Tuesday, December 19th. Finally, TD Securities upped their price target on shares of Parkland from C$52.00 to C$53.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Parkland presently has an average rating of Moderate Buy and a consensus target price of C$52.08.

Parkland Stock Down 0.3 %

Parkland stock opened at C$42.99 on Monday. The firm has a market capitalization of C$7.56 billion, a PE ratio of 16.35, a P/E/G ratio of 11.79 and a beta of 1.38. The company’s 50-day moving average is C$45.01 and its 200-day moving average is C$43.18. Parkland has a fifty-two week low of C$30.29 and a fifty-two week high of C$47.99. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.29 and a quick ratio of 0.73.

Parkland (TSE:PKI) last released its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 earnings per share for the quarter, topping the consensus estimate of C$0.64 by C$0.20. The company had revenue of C$7.75 billion for the quarter, compared to analyst estimates of C$8.41 billion. Parkland had a net margin of 1.45% and a return on equity of 15.15%. Sell-side analysts anticipate that Parkland will post 3.3015038 earnings per share for the current year.

Parkland Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 22nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $1.40 dividend on an annualized basis and a yield of 3.26%. This is an increase from Parkland’s previous quarterly dividend of $0.34. Parkland’s payout ratio is currently 53.23%.

Insider Buying and Selling at Parkland

In other news, Senior Officer Robert Berthold Espey sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total transaction of C$484,000.00. In related news, Senior Officer Darren Robert Smart sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total value of C$43,000.00. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total transaction of C$484,000.00. Insiders sold 42,392 shares of company stock valued at $1,867,999 in the last quarter. Company insiders own 20.51% of the company’s stock.

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.