ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Superior Plus (TSE:SPB) Stock

Superior Plus (TSE:SPB) had its price target upped by research analysts at ATB Cormark Capital Markets from C$8.00 to C$8.50 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price points to a potential upside of 14.56% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. National Bank Financial reduced their price objective on shares of Superior Plus from C$7.00 to C$6.00 and set a “sector perform” rating on the stock in a research note on Monday, February 23rd. Royal Bank Of Canada reduced their price objective on shares of Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. Desjardins lowered shares of Superior Plus from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$8.75 to C$7.00 in a research note on Monday, February 23rd. BMO Capital Markets lowered shares of Superior Plus from an “outperform” rating to a “hold” rating and reduced their price objective for the company from C$9.00 to C$8.00 in a research note on Friday, February 20th. Finally, Raymond James Financial lowered shares of Superior Plus from a “moderate buy” rating to a “hold” rating and reduced their price objective for the company from C$9.75 to C$8.50 in a research note on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Superior Plus has a consensus rating of “Hold” and an average price target of C$7.82.

Superior Plus Trading Down 0.5%

Shares of TSE SPB opened at C$7.42 on Thursday. The company has a debt-to-equity ratio of 244.09, a quick ratio of 0.46 and a current ratio of 0.95. Superior Plus has a 52-week low of C$6.06 and a 52-week high of C$8.34. The firm has a 50 day moving average price of C$6.77 and a two-hundred day moving average price of C$7.19. The stock has a market cap of C$1.59 billion, a P/E ratio of 29.68 and a beta of 0.21.

Superior Plus (TSE:SPB) last announced its quarterly earnings results on Thursday, February 19th. The company reported C$0.37 earnings per share (EPS) for the quarter. Superior Plus had a net margin of 2.49% and a return on equity of 6.95%. The firm had revenue of C($3.43) million during the quarter.

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. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.