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

Superior Plus Corp. (TSE:SPB) shares traded down 21.1% during trading on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The stock traded as low as C$6.06 and last traded at C$6.29. 5,946,604 shares were traded 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 equities research analysts have also recently issued research reports about the company. BMO Capital Markets raised their price objective on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Desjardins reduced their price target on shares of Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research report on Wednesday, August 13th. TD Securities boosted their price target on shares of Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, Raymond James Financial dropped their price objective on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 14th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Stock Down 21.1%

The company has a market capitalization of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18. The stock’s fifty day moving average is C$7.83 and its two-hundred day moving average is C$7.63. 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 data on Thursday, November 13th. The company reported C($0.47) 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$470.64 million during the quarter.

Superior Plus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, September 29th. Superior Plus’s dividend payout ratio (DPR) is currently 109.01%.

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.