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

Superior Plus Corp. (TSE:SPB)’s stock price traded down 21.1% during mid-day trading 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. 5,946,604 shares traded hands during mid-day trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

Several other research firms also recently commented on SPB. BMO Capital Markets raised their price objective on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Raymond James Financial decreased their price target 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. Desjardins lowered their price objective on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. Finally, TD Securities boosted 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. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$9.41.

Superior Plus Stock Down 21.1%

The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67. The firm has a fifty day simple moving average of C$7.83 and a 200 day simple moving average of C$7.62. The company has a market cap of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18.

Superior Plus (TSE:SPB) last announced its earnings results on Thursday, November 13th. The company reported C($0.47) earnings per share (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 declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, September 29th. Superior Plus’s dividend payout ratio (DPR) is currently 109.01%.

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.