Superior Plus (TSE:SPB) Shares Down 21.1% After Analyst Downgrade

Superior Plus Corp. (TSE:SPB) shares traded down 21.1% during trading on Friday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The company traded as low as C$6.06 and last traded at C$6.29. 5,947,104 shares were traded during mid-day trading, an increase of 658% from the average session volume of 784,607 shares. The stock had previously closed at C$7.97.

A number of other equities research analysts have also recently issued reports on the company. TD Securities boosted their price objective on Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. BMO Capital Markets boosted their price target on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Raymond James Financial lowered their price objective on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 14th. Finally, Desjardins reduced their target price on shares of Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research report on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Stock Down 21.1%

The company has a market cap of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18. The stock has a 50-day moving average of C$7.83 and a 200 day moving average of C$7.62. The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46.

Superior Plus (TSE:SPB) last posted its quarterly earnings data on Thursday, November 13th. The company reported C($0.47) earnings per share for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.The firm had revenue of C$470.64 million for the quarter.

Superior Plus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, September 29th. Superior Plus’s dividend payout ratio (DPR) is 109.01%.

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.