Superior Plus (TSE:SPB) Cut to “Hold” at Desjardins

Desjardins cut shares of Superior Plus (TSE:SPB) from a buy rating to a hold rating in a report issued on Monday,BayStreet.CA reports. Desjardins currently has C$7.00 target price on the stock, down from their prior target price of C$8.75.

SPB has been the topic of several other research reports. TD Securities lowered their price objective on shares of Superior Plus from C$8.50 to C$7.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Canadian Imperial Bank of Commerce cut shares of Superior Plus from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$9.00 to C$8.00 in a report on Friday, February 20th. Royal Bank Of Canada decreased their price target on shares of Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating on the stock in a research report on Monday. Scotiabank dropped their price target on Superior Plus from C$10.00 to C$8.50 in a report on Monday, November 17th. Finally, BMO Capital Markets lowered Superior Plus from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$9.00 to C$8.00 in a research note on Friday, February 20th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$7.80.

Superior Plus Stock Up 1.9%

SPB opened at C$6.42 on Monday. 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 has a market capitalization of C$1.43 billion, a PE ratio of 91.71 and a beta of 0.49. The stock’s fifty day moving average is C$7.24 and its 200-day moving average is C$7.42. Superior Plus has a one year low of C$5.85 and a one year high of C$8.34.

Superior Plus (TSE:SPB) last announced its earnings results on Thursday, February 19th. The company reported C$0.33 earnings per share for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.The business had revenue of C($3.43) million during the quarter.

Superior Plus News Summary

Here are the key news stories impacting Superior Plus this week:

• Neutral Sentiment: Recent fundamentals: Superior reported C$0.33 EPS for the quarter (Feb. 19), a thin net margin (~1.8%) and metrics showing high leverage and tight liquidity (debt-to-equity ~193%, current ratio ~0.67). These factors likely explain analysts’ caution.
• Negative Sentiment: Desjardins lowered its rating on SPB, joining other shops in trimming expectations. Superior Plus (TSE:SPB) Stock Rating Lowered by Desjardins
• Negative Sentiment: Stifel Nicolaus reduced its outlook for SPB, contributing to the negative analyst tone. Stifel Nicolaus Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: ATB Cormark Capital Markets lowered expectations for the shares. ATB Cormark Capital Markets Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: Scotiabank downgraded SPB to a “Hold,” reducing buy-side conviction. Scotiabank Downgrades Superior Plus (TSE:SPB) to Hold
• Negative Sentiment: Royal Bank of Canada issued a pessimistic forecast for the stock, adding pressure to consensus views. Royal Bank Of Canada Issues Pessimistic Forecast for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: Raymond James lowered its rating on Superior Plus, another downward revision among analysts. Superior Plus (TSE:SPB) Stock Rating Lowered by Raymond James Financial
• Negative Sentiment: National Bank Financial trimmed its expectations for SPB’s share price. National Bank Financial Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: TD Securities downgraded Superior Plus from “strong-buy” to “hold,” per a Zacks summary — adding to the breadth of downgrades. TD Securities Downgrade Summary (via Zacks)

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