Superior Plus (TSE:SPB) Trading 10.5% Higher – Should You Buy?

Superior Plus Corp. (TSE:SPB) shares shot up 10.5% during mid-day trading on Thursday . The stock traded as high as C$6.62 and last traded at C$6.55. 919,477 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 795,797 shares. The stock had previously closed at C$5.93.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Scotiabank lowered their price objective 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 Superior Plus to a “strong-buy” rating in a research report on Friday, November 8th. TD Securities raised their target price on shares of Superior Plus from C$7.50 to C$9.00 in a report on Thursday, December 5th. Finally, CIBC raised their target price on shares of Superior Plus from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.95.

Superior Plus Stock Performance

The stock has a market cap of C$1.12 billion, a price-to-earnings ratio of 24.45 and a beta of 0.76. 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 stock’s fifty day moving average is C$6.19 and its 200-day moving average is C$6.85.

Insider Buying and Selling

In other news, Senior Officer Natasha Anne Cherednichenko bought 4,800 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of C$6.13 per share, with a total value of C$29,445.12. 0.54% of the stock is owned by corporate insiders.

About Superior Plus

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.