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

Superior Plus Corp. (TSE:SPB) traded down 21.1% during mid-day 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 changed hands during trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

A number of other equities analysts also recently weighed in on the company. Raymond James Financial reduced their price target on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research report on Thursday, August 14th. BMO Capital Markets increased their target price on shares of Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Desjardins lowered their price target 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, TD Securities boosted their price target on shares of Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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 business’s 50 day moving average price is C$7.83 and its 200-day moving average price is C$7.63. The firm has a market cap of C$1.40 billion, a price-to-earnings ratio of 29.95 and a beta of 0.18.

Superior Plus (TSE:SPB) last released its earnings results on Thursday, November 13th. The company reported C($0.47) EPS 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend 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.