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

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

Other equities research analysts have also recently issued research reports about the company. Raymond James Financial dropped their price objective on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a report on Thursday, August 14th. Desjardins reduced their price objective on 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 upped their target price on shares of Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets lifted their price objective on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$9.41.

Superior Plus Stock Down 21.1%

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 company has a 50-day simple moving average of C$7.85 and a 200-day simple moving average of C$7.63. The firm has a market cap of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18.

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

Superior Plus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th were given 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 dividend yield of 2.9%. Superior Plus’s dividend payout ratio (DPR) is presently 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.