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

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

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

Parkland Price Performance

TSE PKI opened at C$43.14 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87. Parkland has a 12-month low of C$30.29 and a 12-month high of C$47.99. The company has a market capitalization of C$7.58 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. The firm’s 50 day moving average is C$44.97 and its 200-day moving average is C$43.18.

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

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 22nd will be issued a $0.35 dividend. The ex-dividend date is Thursday, March 21st. This represents a $1.40 annualized dividend and a yield of 3.25%. This is a positive change from Parkland’s previous quarterly dividend of $0.34. Parkland’s dividend payout ratio (DPR) is 53.23%.

Insider Buying and Selling

In related news, Senior Officer Darren Robert Smart sold 1,000 shares of Parkland stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$43.00, for a total value of C$43,000.00. In other news, Senior Officer Robert Berthold Espey sold 7,500 shares of Parkland stock in a transaction dated Monday, March 4th. The stock was sold at an average price of C$43.75, for a total transaction of C$328,125.00. Also, Senior Officer Darren Robert Smart sold 1,000 shares of Parkland stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total value of C$43,000.00. In the last 90 days, insiders sold 42,392 shares of company stock valued at $1,867,999. 20.51% of the stock is owned by 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.