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

by · The Markets Daily

Shares of Superior Plus Corp. (TSE:SPB – Get Free Report) dropped 21.1% on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The company 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.

SPB has been the subject of several other research reports. Desjardins lowered their price target on shares of Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a report on Wednesday, August 13th. Raymond James Financial lowered their target price on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research note on Thursday, August 14th. TD Securities raised their price target on Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets lifted their price target on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$9.41.

Check Out Our Latest Analysis on Superior Plus

Superior Plus Price Performance

The firm has a market capitalization of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35. The company has a fifty day moving average price of C$7.83 and a two-hundred day moving average price of C$7.63.

Superior Plus (TSE:SPB – Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported C($0.47) earnings per share (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 for the quarter.

Superior Plus Announces Dividend

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

About Superior Plus

(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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