Superior Plus (TSE:SPB) Trading 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 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 equities research analysts have also recently commented on SPB. 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. BMO Capital Markets upped their price target on shares of Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. TD Securities increased their price objective on Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Finally, 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 report on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Superior Plus presently has an average rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Stock Performance

The firm has a market capitalization of C$1.40 billion, a PE 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. The company’s fifty day moving average price is C$7.83 and its two-hundred day moving average price is C$7.63.

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

Superior Plus Announces Dividend

The company 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. The ex-dividend date of this dividend 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 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.