Superior Plus (TSE:SPB) Trading Down 21.1% After Analyst Downgrade

Superior Plus Corp. (TSE:SPB) shares were down 21.1% during trading on Friday 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. Approximately 5,946,604 shares changed hands during trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

Several other equities analysts have also weighed in on SPB. BMO Capital Markets increased their price objective on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Raymond James Financial reduced 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 research report on Thursday, August 14th. TD Securities increased their price objective on Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, Desjardins dropped 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 report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Superior Plus has a consensus rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Price Performance

The firm has a fifty day moving average price of C$7.83 and a two-hundred day moving average price of C$7.62. 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 stock has a market capitalization of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18.

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

Superior Plus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were issued 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%.

Superior Plus Company Profile

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.