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

Shares of Superior Plus Corp. (TSE:SPB) traded down 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 company traded as low as C$6.06 and last traded at C$6.29. 5,946,604 shares traded hands 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.

Several other research analysts also recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Raymond James Financial lowered 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 research report on Thursday, August 14th. TD Securities upped their price target 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. Finally, Desjardins cut their price target on shares of 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 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 presently has a consensus rating of “Moderate Buy” and an average price target of C$9.41.

Superior Plus Trading Down 21.1%

The company’s fifty day simple moving average is C$7.83 and its 200-day simple moving average is C$7.63. The firm 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 current ratio of 0.67 and a quick ratio of 0.46.

Superior Plus (TSE:SPB) last announced its earnings results on Thursday, November 13th. The company reported C($0.47) earnings per share (EPS) for the quarter. The business had revenue of C$470.64 million for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.

Superior Plus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were paid a dividend of $0.045 per share. 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 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.