Superior Plus (TSE:SPB) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Superior Plus Corp. (TSE:SPB)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$7.40 and traded as high as C$8.21. Superior Plus shares last traded at C$8.15, with a volume of 717,447 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPB. TD upped their target price on shares of Superior Plus from C$7.50 to C$8.00 and gave the company a “hold” rating in a research report on Friday, May 15th. Canadian Imperial Bank of Commerce upgraded shares of Superior Plus from a “hold” rating to an “outperformer” rating in a research report on Tuesday, April 21st. ATB Cormark Capital Markets boosted their price target on shares of Superior Plus from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Scotiabank increased their price objective on shares of Superior Plus from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Finally, Stifel Nicolaus raised their price objective on shares of Superior Plus from C$9.00 to C$10.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$8.48.

Superior Plus Trading Up 1.4%

The business’s 50-day moving average price is C$8.05 and its two-hundred day moving average price is C$7.40. The company has a market capitalization of C$1.75 billion, a P/E ratio of 38.81 and a beta of 0.35. The company has a debt-to-equity ratio of 193.28, a current ratio of 1.22 and a quick ratio of 0.46.

Superior Plus (TSE:SPB) last released its quarterly earnings data on Wednesday, May 13th. The company reported C$0.94 EPS for the quarter. Superior Plus had a net margin of 2.01% and a return on equity of 5.20%. The business had revenue of C$1.25 billion during the quarter.

Insider Activity at Superior Plus

In related news, insider Dale Alan Winger bought 3,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of C$8.38 per share, for a total transaction of C$25,140.00. Following the acquisition, the insider owned 48,000 shares of the company’s stock, valued at approximately C$402,240. This represents a 6.67% increase in their position. Insiders bought a total of 15,000 shares of company stock worth $118,360 over the last quarter. Company insiders own 0.54% of the company’s stock.

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.