Superior Plus Corp. (TSE:SPB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Superior Plus Corp. (TSE:SPB) has earned an average rating of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is C$9.90.

SPB has been the topic of several recent analyst reports. BMO Capital Markets decreased their target price on Superior Plus from C$10.00 to C$9.00 in a research note on Tuesday, October 22nd. Desjardins lowered their target price on shares of Superior Plus from C$10.50 to C$9.50 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Scotiabank cut their target price on shares of Superior Plus from C$12.00 to C$9.00 in a research note on Monday, November 11th. Cibc World Mkts upgraded shares of Superior Plus to a “strong-buy” rating in a research note on Friday, November 8th. Finally, CIBC upgraded Superior Plus from a “neutral” rating to an “outperform” rating and cut their price objective for the company from C$9.50 to C$8.50 in a research report on Friday, November 8th.

Insider Buying and Selling

In other news, Director Patrick Edward Gottschalk acquired 100,000 shares of Superior Plus stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average cost of C$6.32 per share, with a total value of C$632,150.40. Also, Director Shawn Bradley Vammen bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were acquired at an average price of C$6.35 per share, with a total value of C$31,750.00. 0.54% of the stock is owned by corporate insiders.

Superior Plus Price Performance

TSE:SPB opened at C$6.47 on Friday. The business’s 50-day simple moving average is C$6.41 and its two-hundred day simple moving average is C$7.47. Superior Plus has a 52 week low of C$5.15 and a 52 week high of C$10.36. The stock has a market cap of C$1.61 billion, a PE ratio of -129.40 and a beta of 0.76. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 133.90.

Superior Plus Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Tuesday, December 31st. Superior Plus’s dividend payout ratio is currently -1,440.00%.

Superior Plus Company Profile

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.