Superior Plus (TSE:SPB) Lifted to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Superior Plus (TSE:SPBGet Rating) to a buy rating in a research note published on Thursday morning, TipRanks reports. They currently have C$13.50 target price on the stock.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets cut their target price on shares of Superior Plus from C$13.00 to C$12.50 in a research note on Tuesday, February 22nd. Cormark dropped their price objective on shares of Superior Plus from C$16.00 to C$13.50 and set a market perform rating on the stock in a research note on Tuesday, February 22nd. National Bank Financial raised shares of Superior Plus from a sector perform under weight rating to an outperfrom under weight rating in a research note on Tuesday, January 25th. TD Securities dropped their price objective on shares of Superior Plus from C$16.00 to C$15.50 and set a buy rating on the stock in a research note on Friday, April 8th. Finally, Raymond James decreased their target price on shares of Superior Plus from C$14.00 to C$13.00 and set a market perform rating for the company in a report on Friday, April 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of C$14.58.

SPB stock opened at C$11.52 on Thursday. The firm’s 50-day moving average price is C$11.57 and its two-hundred day moving average price is C$12.62. Superior Plus has a 12-month low of C$10.80 and a 12-month high of C$16.24. The stock has a market capitalization of C$2.32 billion and a price-to-earnings ratio of 11.11. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 124.28.

Superior Plus (TSE:SPBGet Rating) last released its quarterly earnings data on Thursday, February 17th. The company reported C$0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.28 by C($0.24). The business had revenue of C$824.90 million for the quarter, compared to analysts’ expectations of C$681.67 million. Equities analysts predict that Superior Plus will post 0.6974888 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, May 30th. This represents a $0.72 dividend on an annualized basis and a yield of 6.25%. Superior Plus’s dividend payout ratio is currently 69.43%.

In other Superior Plus news, Senior Officer Elizabeth Summers bought 4,500 shares of Superior Plus stock in a transaction on Tuesday, February 22nd. The stock was acquired at an average cost of C$10.92 per share, with a total value of C$49,140.00. Following the completion of the acquisition, the insider now owns 42,782 shares in the company, valued at C$467,179.44.

About Superior Plus (Get Rating)

Superior Plus Corp. engages in the energy distribution business. It operates through two segments, U.S. Propane Distribution and Canadian Propane Distribution. The U.S. Propane Distribution segment distributes and sells propane, heating oil, and other liquid fuels in the Northeast, Atlantic, the Southeast, the Midwest, and California.

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