Superior Plus (TSE:SPB) Stock Price Down 19.1% on Analyst Downgrade

Shares of Superior Plus Corp. (TSE:SPB) traded down 19.1% on Friday after TD Securities lowered their price target on the stock from C$8.50 to C$7.00. TD Securities currently has a buy rating on the stock. Superior Plus traded as low as C$6.27 and last traded at C$6.42. 5,505,055 shares were traded during trading, an increase of 529% from the average session volume of 874,608 shares. The stock had previously closed at C$7.94.

A number of other brokerages have also issued reports on SPB. National Bank Financial upped their target price on shares of Superior Plus from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Canadian Imperial Bank of Commerce cut Superior Plus from an “outperform” rating to a “neutral” rating and dropped their price target for the company from C$9.00 to C$8.00 in a research note on Friday. Desjardins upped their target price on Superior Plus from C$9.00 to C$9.75 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Scotiabank lowered their target price on Superior Plus from C$10.00 to C$8.50 in a report on Monday, November 17th. Finally, BMO Capital Markets downgraded Superior Plus from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from C$9.00 to C$8.00 in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$8.66.

Superior Plus Stock Down 19.6%

The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46. The company’s 50-day simple moving average is C$7.28 and its 200 day simple moving average is C$7.42. The firm has a market cap of C$1.42 billion, a P/E ratio of 91.14 and a beta of 0.49.

Superior Plus (TSE:SPB) last announced its quarterly earnings data on Thursday, February 19th. The company reported C$0.33 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($3.43) million for the quarter.

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. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.