Park Lawn (TSE:PLC) Reaches New 52-Week Low on Analyst Downgrade

Shares of Park Lawn Co. (TSE:PLCGet Rating) reached a new 52-week low on Wednesday after CIBC lowered their price target on the stock from C$40.00 to C$36.00. CIBC currently has an outperform rating on the stock. Park Lawn traded as low as C$26.42 and last traded at C$26.42, with a volume of 2661 shares trading hands. The stock had previously closed at C$26.60.

Other analysts have also recently issued research reports about the stock. Cormark lowered their price objective on shares of Park Lawn from C$48.75 to C$40.00 in a research report on Monday, August 15th. National Bankshares lowered their price objective on shares of Park Lawn from C$45.00 to C$38.00 and set an “outperform” rating for the company in a research report on Monday, August 15th. Royal Bank of Canada lowered their price objective on shares of Park Lawn from C$50.00 to C$49.00 and set an “outperform” rating for the company in a research report on Monday, August 15th. TD Securities lowered their price objective on shares of Park Lawn from C$47.00 to C$43.00 and set a “buy” rating for the company in a research report on Monday, August 15th. Finally, Scotiabank lowered their price objective on shares of Park Lawn from C$42.75 to C$37.00 in a research report on Monday, August 15th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$42.14.

Insiders Place Their Bets

In other news, Director Marilyn Anne Brophy bought 3,450 shares of the stock in a transaction on Monday, August 15th. The stock was purchased at an average price of C$29.25 per share, for a total transaction of C$100,912.50. Following the acquisition, the director now owns 11,475 shares in the company, valued at C$335,643.75. In related news, Director Deborah Wallis Robinson acquired 1,800 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was bought at an average price of C$27.76 per share, for a total transaction of C$49,968.00. Following the acquisition, the director now directly owns 20,100 shares of the company’s stock, valued at C$557,976. Also, Director Marilyn Anne Brophy acquired 3,450 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was bought at an average price of C$29.25 per share, with a total value of C$100,912.50. Following the acquisition, the director now directly owns 11,475 shares in the company, valued at C$335,643.75. In the last 90 days, insiders bought 5,395 shares of company stock worth $155,086.

Park Lawn Price Performance

The firm has a market capitalization of C$892.40 million and a price-to-earnings ratio of 24.48. The company’s 50 day moving average is C$30.90 and its 200-day moving average is C$32.80. The company has a current ratio of 1.95, a quick ratio of 1.58 and a debt-to-equity ratio of 31.01.

Park Lawn Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a $0.114 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $0.46 annualized dividend and a yield of 1.74%. Park Lawn’s dividend payout ratio (DPR) is currently 42.62%.

About Park Lawn

(Get Rating)

Park Lawn Corporation, together with its subsidiaries, provides deathcare products and services in Canada and the United States. The company primarily offers cemetery lots, crypts, niches, monuments, caskets, urns, and other merchandise, as well as funeral, after life celebration, cemetery, and cremation services.

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