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

Shares of Superior Plus Corp. (TSE:SPB) were down 21.1% during trading 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. Approximately 5,946,604 shares changed hands during mid-day trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

SPB has been the subject of a number of other reports. Desjardins decreased their price objective on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research report on Wednesday, August 13th. Raymond James Financial decreased their price objective on 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. TD Securities boosted their price objective on shares of Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Finally, BMO Capital Markets boosted their target price on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Trading Down 21.1%

The stock’s fifty day moving average price is C$7.83 and its 200 day moving average price is C$7.62. The stock has a market cap of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35.

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

Superior Plus Dividend Announcement

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