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

Superior Plus Corp. (TSE:SPB) shares were down 21.1% 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. Approximately 5,946,604 shares were traded during mid-day trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

A number of other brokerages have also recently commented on SPB. BMO Capital Markets upped their price target on Superior Plus from C$8.00 to C$10.00 in a research report on Friday, October 10th. TD Securities increased their target price on Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Raymond James Financial cut their price objective on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a report on Thursday, August 14th. Finally, Desjardins dropped their price objective 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 research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$9.41.

Superior Plus Trading Down 21.1%

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 PE ratio of 29.95 and a beta of 0.18. The stock’s 50-day moving average price is C$7.83 and its 200 day moving average price is C$7.63.

Superior Plus (TSE:SPB) last posted 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 firm had revenue of C$470.64 million for the quarter.

Superior Plus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors 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 dividend on an annualized basis and a yield of 2.9%. Superior Plus’s dividend payout ratio is currently 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.