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

Superior Plus Corp. (TSE:SPB) dropped 21.1% during 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 daily volume of 787,355 shares. The stock had previously closed at C$7.97.

A number of other research analysts have also weighed in on SPB. BMO Capital Markets lifted their price target on shares of Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. 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 report on Thursday, August 14th. TD Securities lifted their price target on 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, Desjardins cut their price target 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. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Superior Plus presently has an average rating of “Moderate Buy” and a consensus target price of C$9.41.

Superior Plus Stock Performance

The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35. The stock’s fifty day moving average is C$7.83 and its two-hundred day moving average is C$7.63. The firm has a market capitalization of C$1.40 billion, a price-to-earnings ratio of 29.95 and a beta of 0.18.

Superior Plus (TSE:SPB) last released its quarterly earnings data on Thursday, November 13th. The company reported C($0.47) earnings per share 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 for the quarter.

Superior Plus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were given a dividend of $0.045 per share. 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 payout ratio is 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.