Superior Plus (TSE:SPB) Downgraded by Scotiabank to Sector Perform

Superior Plus (TSE:SPB) was downgraded by stock analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. They presently have a C$6.50 price target on the stock, down from their previous price target of C$8.50. Scotiabank’s price target would indicate a potential upside of 1.72% from the company’s current price.

A number of other brokerages have also recently commented on SPB. BMO Capital Markets cut shares of Superior Plus from an “outperform” rating to a “hold” rating and cut their price target for the company from C$9.00 to C$8.00 in a research note on Friday. Canadian Imperial Bank of Commerce cut Superior Plus from an “outperform” rating to a “hold” rating and reduced their price target for the stock from C$9.00 to C$8.00 in a report on Friday. Stifel Nicolaus dropped their price objective on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating on the stock in a research note on Monday. Desjardins downgraded Superior Plus from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$8.75 to C$7.00 in a research note on Monday. Finally, Raymond James Financial lowered shares of Superior Plus from an “outperform” rating to a “market perform” rating and decreased their price target for the company from C$9.75 to C$8.50 in a research note on Monday. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$7.80.

Superior Plus Stock Down 1.4%

TSE:SPB traded down C$0.09 on Monday, hitting C$6.39. 2,011,652 shares of the company’s stock were exchanged, compared to its average volume of 956,645. The firm has a 50-day moving average price of C$7.27 and a 200-day moving average price of C$7.43. Superior Plus has a 52 week low of C$5.85 and a 52 week high of C$8.34. The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46. The company has a market cap of C$1.42 billion, a P/E ratio of 91.29 and a beta of 0.49.

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

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.