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

Superior Plus Corp. (TSE:SPB)’s stock price traded down 21.1% during mid-day trading on Friday 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 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 analysts have also issued research reports about the stock. Raymond James Financial cut their target price on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research report on Thursday, August 14th. TD Securities raised their price target on Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Desjardins dropped their price objective on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Finally, BMO Capital Markets lifted their target price on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.41.

Superior Plus Stock Performance

The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46. The company has a 50 day simple moving average of C$7.83 and a 200-day simple moving average of C$7.63. The firm has a market cap of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18.

Superior Plus (TSE:SPB) last posted its quarterly earnings results 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 business had revenue of C$470.64 million for the quarter.

Superior Plus Announces Dividend

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