Superior Plus (TSE:SPB) Raised to Hold at TD Securities

Superior Plus (TSE:SPB) was upgraded by TD Securities from a “strong sell” rating to a “hold” rating in a report released on Wednesday, Zacks reports.

Other equities research analysts have also issued research reports about the company. ATB Cormark Capital Markets reduced their price target on Superior Plus from C$9.00 to C$7.00 and set a “sector perform” rating on the stock in a research report on Thursday. BMO Capital Markets lowered their price objective on Superior Plus from C$8.50 to C$6.50 and set a “market perform” rating for the company in a research report on Thursday. Scotia lifted their price objective on Superior Plus from C$8.50 to C$9.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. TD raised Superior Plus from a “sell” rating to a “hold” rating and set a C$5.50 price objective on the stock in a research note on Thursday. Finally, Canadian Imperial Bank of Commerce cut Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Superior Plus currently has an average rating of “Hold” and an average price target of C$7.62.

Superior Plus Price Performance

Shares of TSE:SPB opened at C$5.42 on Wednesday. The company has a debt-to-equity ratio of 218.38, a quick ratio of 0.46 and a current ratio of 0.88. Superior Plus has a 52 week low of C$5.11 and a 52 week high of C$8.86. The firm has a market cap of C$1.16 billion, a PE ratio of 30.11 and a beta of 0.31. The firm’s fifty day moving average is C$6.80 and its 200-day moving average is C$7.28.

Superior Plus (TSE:SPB) last posted its quarterly earnings data on Tuesday, November 10th. The company reported C($0.53) earnings per share for the quarter. The company had revenue of C$541.12 million during the quarter. Superior Plus had a net margin of 1.88% and a return on equity of 5.33%. During the same period last year, the firm earned ($0.47) EPS.

Key Superior Plus News

Investors following SPB have been watching these news items:

• Positive Sentiment: TD upgraded Superior Plus from “sell” to “hold,” and separately from “strong sell” to “hold.” The change from a bearish stance is a modest positive, though a C$5.50 target is close to the cited C$5.42 share price. TD recommendation
• Positive Sentiment: Superior Plus reported that its third-quarter net loss narrowed; a separate earnings flash put revenue at $380.1 million. The loss improvement is encouraging, although the brief reports provide limited detail for assessing the quarter. Superior Plus Q3 net loss narrows Q3 revenue report
• Neutral Sentiment: National Bank Financial set a C$6.50 target and “sector perform” rating. That target is above the cited C$5.42 share price, but the rating signals a wait-and-see outlook. TickerReport analyst update

Superior Plus Company Profile

Superior is a North American distributor and marketer of propane, compressed natural gas (‘CNG’), hydrogen and related products and services, and transports renewable natural gas (‘RNG’) from production facilities to natural gas distribution networks. The company is headquartered in Toronto, Ontario, and trades on the Toronto Stock Exchange (‘TSX’) under the symbol SPB. Superior has approximately 4,400 employees located in Canada and the United States.