Superior Plus (TSE:SPB) Stock Price Down 21.1% Following Analyst Downgrade

Superior Plus Corp. (TSE:SPB)’s share price fell 21.1% during trading on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The company traded as low as C$6.06 and last traded at C$6.29. 5,946,604 shares traded hands during mid-day trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

Other analysts also recently issued reports about the stock. Raymond James Financial cut their price target on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 14th. Desjardins lowered their target price on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. TD Securities boosted their price objective on shares of Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets lifted their price objective on shares of Superior Plus from C$8.00 to C$10.00 in a research report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$9.41.

Superior Plus Trading Down 21.1%

The firm has a 50-day moving average of C$7.83 and a 200 day moving average of C$7.62. The company has a market cap of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35.

Superior Plus (TSE:SPB) last announced its quarterly 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 firm had revenue of C$470.64 million during the quarter.

Superior Plus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th were paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, September 29th. Superior Plus’s 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.