CIBC Increases Superior Plus (TSE:SPB) Price Target to C$9.00

Superior Plus (TSE:SPB) had its price target boosted by equities researchers at CIBC from C$8.50 to C$9.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target suggests a potential upside of 43.77% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Superior Plus from C$10.00 to C$9.00 in a research note on Tuesday, October 22nd. Desjardins reduced their price target 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. Cibc World Mkts raised Superior Plus to a “strong-buy” rating in a report on Friday, November 8th. Scotiabank cut their target price on Superior Plus from C$12.00 to C$9.00 in a research note on Monday, November 11th. Finally, TD Securities upped their price target on Superior Plus from C$7.50 to C$9.00 in a research report on Thursday, December 5th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$9.95.

Superior Plus Price Performance

Shares of TSE:SPB opened at C$6.26 on Thursday. The firm has a market capitalization of C$1.56 billion, a PE ratio of -125.20 and a beta of 0.76. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 133.90. The company has a 50-day moving average price of C$6.40 and a two-hundred day moving average price of C$7.44. Superior Plus has a twelve month low of C$5.15 and a twelve month high of C$10.36.

Insider Buying and Selling at Superior Plus

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

Superior Plus Company Profile

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.