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

Superior Plus Corp. (TSE:SPB)’s stock price traded down 21.1% during trading on Friday 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. 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 have also commented on SPB. Desjardins reduced their price target on 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. BMO Capital Markets lifted their target price 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 report on Thursday, August 14th. Finally, TD Securities raised their price target on shares of Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Superior Plus has an average rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Trading Down 21.1%

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 stock has a 50-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 price-to-earnings ratio of 29.95 and a beta of 0.18.

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

Superior Plus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.18 dividend on an annualized basis and a yield of 2.9%. Superior Plus’s dividend payout ratio (DPR) 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.