Superior Plus (TSE:SPB) Upgraded at CIBC

Superior Plus (TSE:SPB) was upgraded by research analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a C$9.00 price objective on the stock, up from their prior price objective of C$8.50. CIBC’s price objective points to a potential upside of 26.58% from the stock’s previous close.

Several other analysts also recently commented on SPB. BMO Capital Markets lifted their target price on shares of Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Scotiabank reduced their price objective on Superior Plus from C$10.00 to C$8.50 in a report on Monday, November 17th. Finally, TD Securities raised Superior Plus from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Superior Plus has an average rating of “Moderate Buy” and an average target price of C$9.28.

Superior Plus Stock Performance

SPB traded up C$0.17 during trading hours on Wednesday, reaching C$7.11. The company’s stock had a trading volume of 624,714 shares, compared to its average volume of 806,498. The company’s 50-day moving average is C$7.54 and its 200-day moving average is C$7.58. Superior Plus has a 52 week low of C$5.77 and a 52 week high of C$8.34. The firm has a market cap of C$1.59 billion, a PE ratio of 101.57 and a beta of 0.17. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67.

Superior Plus (TSE:SPB) last released its quarterly earnings data on Thursday, November 13th. The company reported C($0.41) EPS for the quarter. The company had revenue of C$470.64 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.