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

Superior Plus Corp. (TSE:SPB) traded down 21.1% during trading on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The stock traded as low as C$6.06 and last traded at C$6.29. 5,946,604 shares traded hands during mid-day trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

Several other brokerages have also recently issued reports on SPB. BMO Capital Markets raised their target price on shares of Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. TD Securities boosted their target price on shares of Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Desjardins decreased their target price on shares of 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. Finally, Raymond James Financial lowered their price target 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 research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$9.41.

Superior Plus Stock Performance

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 company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46. The business has a 50-day moving average of C$7.83 and a two-hundred day moving average of C$7.62.

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

Superior Plus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were issued a $0.045 dividend. This represents a $0.18 annualized dividend 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%.

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.