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

Superior Plus Corp. (TSE:SPB)’s stock price dropped 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. Approximately 5,946,604 shares changed hands during trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

Several other analysts have also weighed in on SPB. 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 raised 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 report on Thursday, October 9th. BMO Capital Markets upped their target price on shares of Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Finally, Desjardins decreased their price target on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$9.41.

Superior Plus Stock Performance

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 stock has a market cap of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18. The stock has a fifty day simple moving average of C$7.83 and a 200-day simple moving average of C$7.62.

Superior Plus (TSE:SPB) last issued its quarterly earnings data on Thursday, November 13th. The company reported C($0.47) EPS for the quarter. The business 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%.

Superior Plus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.18 dividend on an annualized basis and a yield of 2.9%. 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.