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

Superior Plus Corp. (TSE:SPB)’s stock price fell 21.1% on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The stock traded as low as C$6.06 and last traded at C$6.29. 5,946,604 shares were traded 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 analysts also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Desjardins dropped their price objective on shares of Superior Plus from C$10.50 to C$9.75 and set a “buy” rating on the stock in a report on Wednesday, August 13th. TD Securities boosted their price objective 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, Raymond James Financial reduced their target price on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research note on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Stock Performance

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 stock has a 50-day moving average price of C$7.83 and a 200-day moving average price of C$7.63. The company has a market capitalization of C$1.40 billion, a price-to-earnings ratio of 29.95 and a beta of 0.18.

Superior Plus (TSE:SPB) last posted its earnings results on Thursday, November 13th. The company reported C($0.47) 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$470.64 million for the quarter.

Superior Plus Dividend Announcement

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