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

Superior Plus Corp. (TSE:SPB)’s stock price fell 21.1% during mid-day 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 trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

Several other research analysts also recently commented on SPB. BMO Capital Markets raised their target price on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. TD Securities raised their price objective on shares of Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Raymond James Financial decreased their target price 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. Finally, Desjardins cut 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 report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$9.41.

Superior Plus Price Performance

The firm’s 50 day simple moving average is C$7.83 and its two-hundred day simple moving average is C$7.63. 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 firm has a market capitalization of C$1.40 billion, a P/E 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 net margin of 1.80% and a return on equity of 4.21%. The company had revenue of C$470.64 million for the quarter.

Superior Plus Dividend Announcement

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