CIBC Cuts Superior Plus (TSE:SPB) Price Target to C$8.50

Superior Plus (TSE:SPB) had its price target cut by research analysts at CIBC from C$9.00 to C$8.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 39.34% from the company’s current price.

Other analysts also recently issued research reports about the stock. Desjardins decreased their target price on shares of Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research report on Wednesday, August 13th. TD Securities raised their price target 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. Raymond James Financial cut their price target 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. Finally, BMO Capital Markets upped their target price on Superior Plus from C$8.00 to C$10.00 in a research report on Friday, October 10th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$9.41.

Superior Plus Trading Down 23.5%

TSE SPB traded down C$1.87 during trading hours on Friday, reaching C$6.10. The company’s stock had a trading volume of 4,733,823 shares, compared to its average volume of 780,790. The firm has a fifty day simple moving average of C$7.85 and a 200-day simple moving average of C$7.63. The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46. Superior Plus has a 52 week low of C$5.77 and a 52 week high of C$8.34. The stock has a market cap of C$1.36 billion, a P/E ratio of 29.05 and a beta of 0.18.

Superior Plus (TSE:SPB) last issued its quarterly earnings results 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%.

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.