Superior Plus (TSE:SPB) Shares Down 21.1% Following Analyst Downgrade

Superior Plus Corp. (TSE:SPB)’s stock price fell 21.1% during trading on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The company traded as low as C$6.06 and last traded at C$6.29. 5,946,604 shares traded hands during trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

A number of other equities research analysts also recently weighed in on the company. TD Securities raised their price objective on Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. BMO Capital Markets increased their price target on shares of Superior Plus from C$8.00 to C$10.00 in a research report on Friday, October 10th. Raymond James Financial lowered their price target on shares of 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, Desjardins reduced their price objective on shares of Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Superior Plus has an average rating of “Moderate Buy” and a consensus price target of C$9.41.

Superior Plus Price Performance

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 fifty day simple moving average of C$7.83 and a 200-day simple moving average of C$7.62. The company has a market capitalization of C$1.40 billion, a price-to-earnings ratio of 29.95 and a beta of 0.18.

Superior Plus (TSE:SPB) last released its quarterly earnings results on Thursday, November 13th. The company reported C($0.47) EPS for the quarter. Superior Plus had a net margin of 1.80% and a return on equity of 4.21%. The firm had revenue of C$470.64 million for the quarter.

Superior Plus Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were paid a $0.045 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.18 dividend on an annualized basis and a yield of 2.9%. Superior Plus’s dividend payout ratio (DPR) is currently 109.01%.

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.