Parkland (TSE:PKI) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Parkland Co. (TSE:PKI) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$38.46 and traded as high as C$40.29. Parkland shares last traded at C$39.84, with a volume of 1,329,226 shares changing hands.

Analyst Upgrades and Downgrades

PKI has been the subject of several analyst reports. National Bankshares raised their price target on shares of Parkland from C$41.00 to C$42.00 and gave the company a “tender” rating in a research report on Wednesday, August 6th. Raymond James Financial dropped their price target on shares of Parkland from C$45.00 to C$44.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Parkland presently has an average rating of “Hold” and an average price target of C$43.25.

Parkland Stock Performance

The firm has a market cap of C$6.96 billion, a PE ratio of 20.86, a PEG ratio of 11.79 and a beta of 0.11. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87. The firm’s 50 day simple moving average is C$39.09 and its 200 day simple moving average is C$38.46.

Parkland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.6%. Parkland’s payout ratio is currently 74.87%.

Insider Buying and Selling

In related news, insider Marcel Teunissen purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were acquired at an average price of C$40.44 per share, for a total transaction of C$404,400.00. Following the purchase, the insider directly owned 76,731 shares in the company, valued at C$3,103,001.64. This trade represents a 14.99% increase in their ownership of the stock. 20.51% of the stock is currently owned by insiders.

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.