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

Superior Plus Corp. (TSE:SPB) dropped 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 were traded 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 analysts have also recently commented on SPB. BMO Capital Markets upped their target price on shares of Superior Plus from C$8.00 to C$10.00 in a research report on Friday, October 10th. Desjardins lowered their price target on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Raymond James Financial cut 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 report on Thursday, August 14th. Finally, TD Securities upped their target price 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. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$9.41.

Superior Plus Trading Down 21.1%

The stock has a market cap of C$1.40 billion, a price-to-earnings ratio of 29.95 and a beta of 0.18. The business has a 50-day simple moving average of C$7.83 and a two-hundred day simple moving average of C$7.63. 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 announced its quarterly earnings data on Thursday, November 13th. The company reported C($0.47) EPS for the quarter. The business 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 company also recently announced 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 payout ratio is presently 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.