Scotiabank Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its target price dropped by research analysts at Scotiabank from C$12.00 to C$9.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 44.00% from the company’s current price.

Other equities analysts also recently issued reports about the company. CIBC upgraded Superior Plus from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from C$9.50 to C$8.50 in a research report on Friday, November 8th. ATB Capital reduced their price objective on Superior Plus from C$13.00 to C$12.00 in a research report on Thursday, August 15th. Desjardins reduced their price objective on Superior Plus from C$10.50 to C$9.50 and set a “buy” rating for the company in a research report on Wednesday, October 16th. National Bankshares reduced their price objective on Superior Plus from C$10.00 to C$9.00 in a research report on Thursday, August 15th. Finally, Royal Bank of Canada reduced their price objective on Superior Plus from C$13.00 to C$11.00 in a research report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Superior Plus has a consensus rating of “Moderate Buy” and an average price target of C$9.91.

Superior Plus Stock Down 3.5 %

TSE:SPB opened at C$6.25 on Monday. The firm has a market capitalization of C$1.55 billion, a PE ratio of -125.00 and a beta of 0.76. The stock has a 50 day moving average of C$7.28 and a 200-day moving average of C$8.23. Superior Plus has a 52 week low of C$5.15 and a 52 week high of C$10.36. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 133.90.

Superior Plus (TSE:SPB) last posted its earnings results on Tuesday, August 13th. The company reported C($0.27) EPS for the quarter, missing the consensus estimate of C($0.19) by C($0.08). The company had revenue of C$578.62 million for the quarter, compared to the consensus estimate of C$710.53 million. Superior Plus had a negative net margin of 0.10% and a positive return on equity of 1.17%.

Insider Buying and Selling at Superior Plus

In related news, Director Shawn Bradley Vammen purchased 5,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of C$6.35 per share, with a total value of C$31,750.00. In other news, Director Patrick Edward Gottschalk bought 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were bought at an average cost of C$6.32 per share, with a total value of C$632,150.40. Also, Director Shawn Bradley Vammen bought 5,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of C$6.35 per share, for a total transaction of C$31,750.00. 0.54% of the stock is owned by corporate insiders.

About Superior Plus

Superior Plus Corp. distributes and markets propane, compressed natural gas and renewable energy in both the United States and Canada. The company operates through The United States Retail Propane Distribution (U.S. Propane), Canadian Retail Propane Distribution (Canadian Propane), and North American Wholesale Propane Distribution (Wholesale Propane), and Certarus segments.