Superior Plus (TSE:SPB) Downgraded to Sector Perform Rating by Royal Bank Of Canada

Superior Plus (TSE:SPB) was downgraded by Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report issued on Monday,BayStreet.CA reports. They presently have a C$9.00 price target on the stock, down from their prior price target of C$10.00. Royal Bank Of Canada’s price objective indicates a potential upside of 20.16% from the stock’s current price.

SPB has been the subject of several other reports. Stifel Nicolaus lifted their price objective on Superior Plus from C$9.00 to C$10.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. National Bank Financial lifted their price target on shares of Superior Plus from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. TD boosted their price objective on shares of Superior Plus from C$7.50 to C$8.00 and gave the company a “hold” rating in a report on Friday, May 15th. Scotiabank increased their price objective on shares of Superior Plus from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research report on Tuesday, May 19th. Finally, ATB Cormark Capital Markets raised their target price on shares of Superior Plus from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$8.52.

Superior Plus Stock Down 8.7%

SPB stock traded down C$0.71 during midday trading on Monday, hitting C$7.49. The company’s stock had a trading volume of 781,778 shares, compared to its average volume of 910,653. The company has a market cap of C$1.61 billion, a PE ratio of 35.67 and a beta of 0.35. Superior Plus has a 12 month low of C$6.06 and a 12 month high of C$8.86. The company has a current ratio of 0.91, a quick ratio of 0.46 and a debt-to-equity ratio of 193.48. The firm’s 50-day moving average is C$8.07 and its 200-day moving average is C$7.45.

Superior Plus (TSE:SPB) last posted its earnings results on Wednesday, May 13th. The company reported C$0.94 EPS for the quarter. Superior Plus had a negative return on equity of 0.41% and a negative net margin of 0.15%.The business had revenue of C$1.25 billion during the quarter.

Insider Transactions at Superior Plus

In other news, insider Dale Alan Winger purchased 10,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of C$7.65 per share, for a total transaction of C$76,500.00. Following the purchase, the insider directly owned 41,000 shares in the company, valued at C$313,650. This trade represents a 32.26% increase in their position. Insiders bought 15,000 shares of company stock valued at $118,360 over the last 90 days. Company insiders own 0.54% of the company’s stock.

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