Superior Plus (TSE:SPB) Downgraded by Desjardins to “Hold”

Superior Plus (TSE:SPB) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a note issued to investors on Monday,BayStreet.CA reports. They presently have a C$7.00 target price on the stock, down from their prior target price of C$8.75. Desjardins’ price objective indicates a potential upside of 9.55% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. TD Securities decreased their price target on shares of Superior Plus from C$8.50 to C$7.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank Of Canada cut their price objective on shares of Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating for the company in a report on Monday. Canadian Imperial Bank of Commerce cut shares of Superior Plus from an “outperform” rating to a “hold” rating and lowered their target price for the stock from C$9.00 to C$8.00 in a report on Friday. Scotiabank cut their price target on Superior Plus from C$10.00 to C$8.50 in a research note on Monday, November 17th. Finally, BMO Capital Markets lowered Superior Plus from an “outperform” rating to a “hold” rating and lowered their price objective for the stock from C$9.00 to C$8.00 in a research note on Friday. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$7.80.

Superior Plus Stock Performance

SPB stock traded down C$0.09 during mid-day trading on Monday, hitting C$6.39. 2,011,652 shares of the company were exchanged, compared to its average volume of 956,645. Superior Plus has a 1-year low of C$5.85 and a 1-year high of C$8.34. The stock has a market capitalization of C$1.42 billion, a PE ratio of 91.29 and a beta of 0.49. The business has a 50 day simple moving average of C$7.27 and a 200-day simple moving average of C$7.43. 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, February 19th. The company reported C$0.33 earnings per share for the quarter. The company had revenue of C($3.43) million for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.

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.