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

Superior Plus Corp. (TSE:SPB) was 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 traded hands 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 analysts have also commented on the company. Desjardins dropped their price target on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research note on Wednesday, August 13th. TD Securities raised their target price on shares of 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. BMO Capital Markets lifted their target price on shares of Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Finally, Raymond James Financial reduced their price target on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 14th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$9.41.

Superior Plus Stock Down 21.1%

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

Superior Plus (TSE:SPB) last issued its earnings results on Thursday, November 13th. The company reported C($0.47) earnings per share (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 during the quarter.

Superior Plus Dividend Announcement

The firm also recently announced 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 of this dividend was Monday, September 29th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.9%. Superior Plus’s dividend payout ratio (DPR) is presently 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.