Superior Plus (TSE:SPB) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Superior Plus Corp. (TSE:SPB) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$7.40 and traded as high as C$8.21. Superior Plus shares last traded at C$8.15, with a volume of 717,447 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on SPB shares. National Bank Financial lifted their price target on Superior Plus from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research note on Monday, June 1st. ATB Cormark Capital Markets upped their price objective on Superior Plus from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Stifel Nicolaus increased their price objective on Superior Plus from C$9.00 to C$10.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Scotiabank lifted their target price on Superior Plus from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research report on Tuesday, May 19th. Finally, Desjardins boosted their target price on Superior Plus from C$7.00 to C$7.75 and gave the company a “hold” rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$8.48.

Superior Plus Trading Up 1.4%

The business’s 50 day simple moving average is C$8.05 and its 200 day simple moving average is C$7.40. The stock has a market cap of C$1.75 billion, a price-to-earnings ratio of 38.81 and a beta of 0.35. The company has a quick ratio of 0.46, a current ratio of 1.22 and a debt-to-equity ratio of 193.28.

Superior Plus (TSE:SPB) last issued its earnings results on Wednesday, May 13th. The company reported C$0.94 earnings per share (EPS) for the quarter. The company had revenue of C$1.25 billion for the quarter. Superior Plus had a net margin of 2.01% and a return on equity of 5.20%.

Insiders Place Their Bets

In other Superior Plus news, insider Dale Alan Winger purchased 10,000 shares of the stock in a transaction on Friday, May 15th. The shares were purchased at an average price of C$7.65 per share, with a total value of C$76,500.00. Following the completion of the transaction, the insider directly owned 41,000 shares in the company, valued at C$313,650. This represents a 32.26% increase in their ownership of the stock. Insiders purchased a total of 15,000 shares of company stock worth $118,360 over the last 90 days. 0.54% of the stock is owned by insiders.

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. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.