ATB Cormark Capital Markets Issues Pessimistic Forecast for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its price target decreased by equities researchers at ATB Cormark Capital Markets from C$9.00 to C$8.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target points to a potential upside of 25.20% from the stock’s current price.

A number of other analysts have also recently commented on SPB. TD Securities reduced their target price on shares of Superior Plus from C$8.50 to C$7.00 and set a “buy” rating for the company in a report on Friday. Raymond James Financial cut Superior Plus from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$9.75 to C$8.50 in a report on Monday. Scotiabank lowered Superior Plus from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$8.50 to C$6.50 in a research note on Monday. National Bank Financial lowered their price objective on Superior Plus from C$7.00 to C$6.00 and set a “sector perform” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus cut their target price on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating for the company in a research report on Monday. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Superior Plus currently has a consensus rating of “Hold” and a consensus price target of C$7.80.

Superior Plus Stock Performance

Superior Plus stock traded down C$0.09 during mid-day trading on Monday, reaching C$6.39. 2,011,652 shares of the stock traded hands, compared to its average volume of 956,645. Superior Plus has a 12-month low of C$5.85 and a 12-month high of C$8.34. The business’s 50-day moving average is C$7.27 and its 200-day moving average is C$7.43. The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46. The stock has a market capitalization of C$1.42 billion, a PE ratio of 91.29 and a beta of 0.49.

Superior Plus (TSE:SPB) last released its quarterly earnings results on Thursday, February 19th. The company reported C$0.33 earnings per share (EPS) for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.The business had revenue of C($3.43) million during the quarter.

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. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.