Superior Plus (TSE:SPB) Downgraded by Royal Bank of Canada

Superior Plus (TSE:SPB) was downgraded by equities researchers at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday, BayStreet.CA reports. They currently have a C$14.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 5.58% from the company’s previous close.

Several other research firms have also issued reports on SPB. Raymond James restated a “buy” rating and set a $18.00 price target on shares of Cornerstone Progressive Return Fund in a research report on Wednesday, June 12th. Canaccord Genuity set a $49.00 price objective on Lovesac and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Desjardins lifted their price objective on Superior Plus from C$14.00 to C$14.50 in a research report on Friday, May 10th. CIBC reiterated a “market perform” rating on shares of Monro in a research report on Thursday. Finally, BMO Capital Markets lifted their price objective on Axalta Coating Systems to $34.00 and gave the stock a “market perform” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$14.89.

Shares of TSE SPB traded down C$0.30 during trading hours on Friday, reaching C$13.26. 341,777 shares of the stock traded hands, compared to its average volume of 555,090. The stock has a market cap of $2.33 billion and a P/E ratio of 27.74. The company has a debt-to-equity ratio of 163.24, a current ratio of 1.33 and a quick ratio of 0.98. Superior Plus has a 52-week low of C$9.17 and a 52-week high of C$13.70. The business’s 50-day moving average is C$12.90.

Superior Plus (TSE:SPB) last posted its quarterly earnings results on Thursday, May 9th. The company reported C$0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.61 by C$0.30. The company had revenue of C$1.02 billion for the quarter, compared to the consensus estimate of C$1.03 billion. Analysts predict that Superior Plus will post 0.98 earnings per share for the current year.

Superior Plus Company Profile

Superior Plus Corp. engages in the energy distribution and specialty chemicals businesses in Canada, the United States, and Chile. The company's Energy Distribution segment provides distribution, wholesale procurement, and related services for propane, heating oil, and other refined fuels. Its Specialty Chemicals segment supplies sodium chlorate and technology to the pulp and paper industries, as well as potassium and chlor-alkali products.

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Analyst Recommendations for Superior Plus (TSE:SPB)

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