Superior Plus (TSE:SPB) Price Target Raised to C$8.75

by · The Markets Daily

Superior Plus (TSE:SPB – Free Report) had its price objective lifted by Desjardins from C$8.00 to C$8.75 in a report published on Monday morning,BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

Several other research firms have also commented on SPB. National Bank Financial increased their price target on shares of Superior Plus from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research report on Monday, June 1st. TD lifted their price objective on Superior Plus from C$7.50 to C$8.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Stifel Nicolaus upped their target price on Superior Plus from C$9.00 to C$10.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. ATB Cormark Capital Markets upped their target price on Superior Plus from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Scotiabank increased their target price on Superior Plus from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Superior Plus has an average rating of “Hold” and a consensus target price of C$8.60.

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Superior Plus Price Performance

Superior Plus stock opened at C$7.60 on Monday. Superior Plus has a 52 week low of C$6.06 and a 52 week high of C$8.86. The company has a quick ratio of 0.46, a current ratio of 0.91 and a debt-to-equity ratio of 193.48. The firm’s 50-day simple moving average is C$8.01 and its 200 day simple moving average is C$7.46. The firm has a market capitalization of C$1.63 billion, a PE ratio of 36.19 and a beta of 0.35.

Superior Plus (TSE:SPB – Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported C$0.94 earnings per share for the quarter. The firm had revenue of C$1.25 billion during the quarter. Superior Plus had a negative net margin of 0.15% and a negative return on equity of 0.41%.

Insider Transactions at Superior Plus

In other news, insider Dale Alan Winger purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were bought at an average cost of C$7.65 per share, with a total value of C$76,500.00. Following the purchase, the insider directly owned 41,000 shares of the company’s stock, valued at approximately C$313,650. This trade represents a 32.26% increase in their ownership of the stock. In the last 90 days, insiders have bought 15,000 shares of company stock valued at $118,360. 0.54% of the stock is currently owned by corporate insiders.

About Superior Plus

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Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.

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