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

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

Other analysts have also recently issued research reports about the stock. TD Securities increased 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 research note on Thursday, October 9th. BMO Capital Markets raised their target price on shares of Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. 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 report on Wednesday, August 13th. Finally, Raymond James Financial dropped their price objective on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$9.41.

Superior Plus Price Performance

The company has a fifty day simple moving average of C$7.83 and a two-hundred day simple moving average of C$7.63. The stock has a market capitalization of C$1.40 billion, a price-to-earnings ratio of 29.95 and a beta of 0.18. 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 released its earnings results on Thursday, November 13th. The company reported C($0.47) earnings per share (EPS) for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.The company had revenue of C$470.64 million for the quarter.

Superior Plus Dividend Announcement

The company 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. This represents a $0.18 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, September 29th. Superior Plus’s dividend payout ratio is presently 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.