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

Superior Plus Corp. (TSE:SPB)’s share price traded down 21.1% during mid-day trading on Friday 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. 5,946,604 shares changed hands during trading, an increase of 655% from the average session volume of 787,355 shares. The stock had previously closed at C$7.97.

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

Superior Plus Stock Performance

The stock has a market cap of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18. The firm’s 50-day moving average is C$7.85 and its 200 day moving average is C$7.63. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67.

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

Superior Plus Dividend Announcement

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

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.