Desjardins Boosts Superior Plus (TSE:SPB) Price Target to C$8.00

Superior Plus (TSE:SPB) had its price target boosted by Desjardins from C$7.75 to C$8.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ target price points to a potential downside of 0.74% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Scotiabank raised their target price on shares of Superior Plus from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research note on Tuesday, May 19th. National Bank Financial raised their price objective on Superior Plus from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce upgraded Superior Plus from a “hold” rating to an “outperformer” rating in a research note on Tuesday, April 21st. Stifel Nicolaus upped their target price on Superior Plus from C$9.00 to C$10.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Finally, ATB Cormark Capital Markets increased their price target on Superior Plus from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Superior Plus currently has a consensus rating of “Hold” and an average price target of C$8.50.

Superior Plus Stock Up 0.4%

Shares of TSE:SPB traded up C$0.03 on Wednesday, reaching C$8.06. The company had a trading volume of 197,843 shares, compared to its average volume of 920,106. The company has a current ratio of 1.22, a quick ratio of 0.46 and a debt-to-equity ratio of 193.28. The firm has a market capitalization of C$1.73 billion, a PE ratio of 38.38 and a beta of 0.35. Superior Plus has a 52-week low of C$6.06 and a 52-week high of C$8.86. The firm’s 50 day simple moving average is C$8.08 and its 200-day simple moving average is C$7.42.

Superior Plus (TSE:SPB) last announced its earnings results on Wednesday, May 13th. The company reported C$0.94 EPS for the quarter. Superior Plus had a net margin of 2.01% and a return on equity of 5.20%. The business had revenue of C$1.25 billion during the quarter.

Insider Buying and Selling

In other news, insider Dale Alan Winger purchased 3,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were acquired at an average price of C$8.38 per share, for a total transaction of C$25,140.00. Following the purchase, the insider owned 48,000 shares in the company, valued at C$402,240. This trade represents a 6.67% increase in their ownership of the stock. Over the last ninety days, insiders bought 15,000 shares of company stock worth $118,360. Insiders own 0.54% of the company’s stock.

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.