Superior Plus (TSE:SPB) Stock Price Down 21.1% After Analyst Downgrade

Superior Plus Corp. (TSE:SPB)’s share price fell 21.1% on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The company traded as low as C$6.06 and last traded at C$6.29. 5,946,604 shares traded hands during trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

Other research analysts have also issued reports about the company. Raymond James Financial reduced their price target on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research report on Thursday, August 14th. Desjardins reduced 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 report on Wednesday, August 13th. TD Securities increased their price target on shares of Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Finally, BMO Capital Markets raised their price target on shares of Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$9.41.

Superior Plus Trading Down 21.1%

The stock has a 50-day moving average of C$7.83 and a 200 day moving average of C$7.62. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35. The stock has a market cap of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18.

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

Superior Plus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were given a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, September 29th. Superior Plus’s dividend payout ratio is currently 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.