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

Shares of Superior Plus Corp. (TSE:SPB) were down 21.1% 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. Approximately 5,946,604 shares were traded during trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

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

Superior Plus Trading Down 21.1%

The company’s fifty day simple moving average is C$7.83 and its two-hundred day simple moving average is C$7.62. The company has a market capitalization of C$1.40 billion, a price-to-earnings ratio of 29.95 and a beta of 0.18. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35.

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

Superior Plus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were paid a dividend of $0.045 per share. 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 is presently 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.