Superior Plus (TSE:SPB) Trading Down 21.1% After Analyst Downgrade

by · The Cerbat Gem

Superior Plus Corp. (TSE:SPB – Get Free Report)’s stock price dropped 21.1% on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The stock traded as low as C$6.06 and last traded at C$6.29. Approximately 5,946,604 shares changed hands during trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

Several other equities analysts also recently weighed in on SPB. TD Securities increased their price target on shares of Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. BMO Capital Markets lifted their target price on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Desjardins dropped their price target on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Finally, Raymond James Financial reduced their price objective on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$9.41.

Read Our Latest Stock Report on Superior Plus

Superior Plus Trading Down 21.1%

The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35. The firm’s 50-day simple moving average is C$7.83 and its 200 day simple moving average is C$7.62. The stock has a market capitalization of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18.

Superior Plus (TSE:SPB – Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The company reported C($0.47) EPS for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.The firm had revenue of C$470.64 million during the quarter.

Superior Plus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were paid a $0.045 dividend. The ex-dividend date was Monday, September 29th. This represents a $0.18 dividend on an annualized basis and a yield of 2.9%. Superior Plus’s payout ratio is 109.01%.

Superior Plus Company Profile

(Get Free Report)

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.

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