Royal Bank Of Canada Cuts Superior Plus (TSE:SPB) Price Target to C$10.00

Superior Plus (TSE:SPB) had its target price decreased by Royal Bank Of Canada from C$11.00 to C$10.00 in a report issued on Monday,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on the company. National Bank Financial boosted their price objective on Superior Plus from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Canadian Imperial Bank of Commerce lowered Superior Plus from an “outperform” rating to a “hold” rating and reduced their price target for the stock from C$9.00 to C$8.00 in a research report on Friday, February 20th. TD Securities decreased their price target on Superior Plus from C$8.50 to C$7.00 and set a “buy” rating for the company in a report on Friday, February 20th. Scotiabank lowered their price objective on shares of Superior Plus from C$10.00 to C$8.50 in a research report on Monday, November 17th. Finally, Desjardins boosted their target price on shares of Superior Plus from C$9.00 to C$9.75 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$7.80.

Superior Plus Price Performance

Superior Plus stock opened at C$6.42 on Monday. The firm has a fifty day moving average of C$7.24 and a 200-day moving average of C$7.42. Superior Plus has a 52-week low of C$5.85 and a 52-week high of C$8.34. 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 firm has a market capitalization of C$1.43 billion, a P/E ratio of 91.71 and a beta of 0.49.

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

More Superior Plus News

Here are the key news stories impacting Superior Plus this week:

• Neutral Sentiment: Recent fundamentals: Superior reported C$0.33 EPS for the quarter (Feb. 19), a thin net margin (~1.8%) and metrics showing high leverage and tight liquidity (debt-to-equity ~193%, current ratio ~0.67). These factors likely explain analysts’ caution.
• Negative Sentiment: Desjardins lowered its rating on SPB, joining other shops in trimming expectations. Superior Plus (TSE:SPB) Stock Rating Lowered by Desjardins
• Negative Sentiment: Stifel Nicolaus reduced its outlook for SPB, contributing to the negative analyst tone. Stifel Nicolaus Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: ATB Cormark Capital Markets lowered expectations for the shares. ATB Cormark Capital Markets Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: Scotiabank downgraded SPB to a “Hold,” reducing buy-side conviction. Scotiabank Downgrades Superior Plus (TSE:SPB) to Hold
• Negative Sentiment: Royal Bank of Canada issued a pessimistic forecast for the stock, adding pressure to consensus views. Royal Bank Of Canada Issues Pessimistic Forecast for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: Raymond James lowered its rating on Superior Plus, another downward revision among analysts. Superior Plus (TSE:SPB) Stock Rating Lowered by Raymond James Financial
• Negative Sentiment: National Bank Financial trimmed its expectations for SPB’s share price. National Bank Financial Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: TD Securities downgraded Superior Plus from “strong-buy” to “hold,” per a Zacks summary — adding to the breadth of downgrades. TD Securities Downgrade Summary (via Zacks)

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