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

Superior Plus Corp. (TSE:SPB) shares traded down 21.1% on Friday 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 were traded during trading, an increase of 655% from the average session 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 upped their target price on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Desjardins reduced their price objective on 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. Raymond James Financial dropped their target price 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, TD Securities raised their target price on Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.41.

Superior Plus Price Performance

The business has a fifty day moving average price of C$7.83 and a 200 day moving average price 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. 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.

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. The company had revenue of C$470.64 million during the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.

Superior Plus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th were issued a $0.045 dividend. The ex-dividend date was Monday, September 29th. This represents a $0.18 annualized dividend and a dividend yield of 2.9%. 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.