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

Shares of Superior Plus Corp. (TSE:SPB) fell 21.1% during trading 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 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.

A number of other equities analysts have also recently weighed in on the stock. Desjardins lowered their price objective on shares of 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. BMO Capital Markets raised their target price on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Raymond James Financial dropped their target price 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. Finally, TD Securities increased their price target 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. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$9.41.

Superior Plus Stock Performance

The firm has a fifty day simple moving average of C$7.83 and a 200-day simple moving average of C$7.63. 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 company 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 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 firm had revenue of C$470.64 million during the quarter.

Superior Plus Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th were issued a $0.045 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.9%. Superior Plus’s payout ratio is presently 109.01%.

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.