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

Shares of Superior Plus Corp. (TSE:SPB) dropped 21.1% on Saturday 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 traded hands during trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

A number of other research analysts have also commented on SPB. TD Securities upped 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 note on Thursday, October 9th. BMO Capital Markets raised their price objective on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Desjardins dropped their target price on shares of 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. Finally, Raymond James Financial reduced their price objective on 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 equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Superior Plus currently has an average rating of “Moderate Buy” and a consensus target price of C$9.41.

Superior Plus Price Performance

The company has a fifty day simple moving average of C$7.83 and a 200 day simple moving average of C$7.63. The stock 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 debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67.

Superior Plus (TSE:SPB) last issued its quarterly earnings data on Thursday, November 13th. The company reported C($0.47) earnings per share (EPS) for the quarter. The company 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 disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders 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 dividend yield of 2.9%. The ex-dividend date was Monday, September 29th. Superior Plus’s dividend payout ratio (DPR) is currently 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.