Superior Plus (TSE:SPB) Raised to Buy at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Superior Plus (TSE:SPBGet Rating) to a buy rating in a research report report published on Thursday morning, TipRanks reports. Royal Bank of Canada currently has C$15.00 target price on the stock.

Several other equities research analysts also recently weighed in on SPB. Cormark raised shares of Superior Plus to a buy rating and set a C$15.00 price target for the company in a research report on Thursday. National Bankshares set a C$13.00 price target on shares of Superior Plus and gave the company an outperform rating in a research report on Wednesday, April 6th. National Bank Financial raised shares of Superior Plus from a sector perform under weight rating to an outperfrom under weight rating in a research report on Tuesday, January 25th. BMO Capital Markets reduced their price target on shares of Superior Plus from C$13.00 to C$12.50 in a research report on Tuesday, February 22nd. Finally, Raymond James reduced their price target on shares of Superior Plus from C$14.00 to C$13.00 and set a market perform rating for the company in a research report on Friday, April 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of C$14.58.

SPB stock opened at C$11.52 on Thursday. The firm has a 50 day moving average price of C$11.57 and a 200-day moving average price of C$12.62. Superior Plus has a 52-week low of C$10.80 and a 52-week high of C$16.24. The firm has a market capitalization of C$2.32 billion and a price-to-earnings ratio of 11.11. The company has a debt-to-equity ratio of 124.28, a quick ratio of 0.68 and a current ratio of 1.06.

Superior Plus (TSE:SPBGet Rating) last announced its quarterly earnings results on Thursday, February 17th. The company reported C$0.04 earnings per share for the quarter, missing the consensus estimate of C$0.28 by C($0.24). The company had revenue of C$824.90 million for the quarter, compared to the consensus estimate of C$681.67 million. As a group, sell-side analysts forecast that Superior Plus will post 0.6974888 earnings per share for the current fiscal year.

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

In other Superior Plus news, Senior Officer Elizabeth Summers purchased 4,500 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were acquired at an average price of C$10.92 per share, for a total transaction of C$49,140.00. Following the purchase, the insider now directly owns 42,782 shares of the company’s stock, valued at approximately 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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