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

Shares of Superior Plus Corp. (TSE:SPB) traded down 21.1% during trading on Friday 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.

Several other equities analysts have also commented on the stock. 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 on the stock in a report on Thursday, August 14th. BMO Capital Markets raised their price objective on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. TD Securities boosted their target price on Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, Desjardins dropped their target price on 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. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$9.41.

Superior Plus Stock Performance

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 stock has a market capitalization of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18. The business has a 50-day moving average price of C$7.83 and a 200 day moving average price of C$7.62.

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

Superior Plus Dividend Announcement

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