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

Superior Plus Corp. (TSE:SPB) was 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.

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

Superior Plus Trading Down 21.1%

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

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

Superior Plus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were issued 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 was Monday, September 29th. Superior Plus’s dividend payout ratio is currently 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.