Superior Plus (TSE:SPB) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Superior Plus Corp. (TSE:SPB) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.47 and traded as high as C$7.72. Superior Plus shares last traded at C$7.47, with a volume of 1,126,271 shares traded.

Wall Street Analysts Forecast Growth

SPB has been the topic of several recent analyst reports. National Bank Financial boosted their price target on Superior Plus from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Desjardins upped their price target on Superior Plus from C$8.00 to C$8.75 and gave the company a “hold” rating in a research report on Monday, August 10th. Scotiabank increased their price objective on Superior Plus from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a research note on Tuesday, May 19th. Scotia lifted their price objective on Superior Plus from C$8.50 to C$9.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, ATB Cormark Capital Markets boosted their target price on shares of 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. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$8.60.

Superior Plus Price Performance

The stock has a market capitalization of C$1.57 billion, a P/E ratio of 730.00 and a beta of 0.35. The company’s 50 day simple moving average is C$7.94 and its two-hundred day simple moving average is C$7.47. The company has a debt-to-equity ratio of 193.48, a current ratio of 0.91 and a quick ratio of 0.46.

Insiders Place Their Bets

In other Superior Plus news, insider Dale Alan Winger purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of C$8.38 per share, with a total value of C$25,140.00. Following the acquisition, the insider directly owned 48,000 shares of the company’s stock, valued at approximately C$402,240. This trade represents a 6.67% increase in their position. 0.54% of the stock is owned by corporate insiders.

Superior Plus Company Profile

Superior is a North American distributor and marketer of propane, compressed natural gas (‘CNG’), hydrogen and related products and services, and transports renewable natural gas (‘RNG’) from production facilities to natural gas distribution networks. The company is headquartered in Toronto, Ontario, and trades on the Toronto Stock Exchange (‘TSX’) under the symbol SPB. Superior has approximately 4,400 employees located in Canada and the United States.