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

Superior Plus Corp. (TSE:SPB)’s share price dropped 21.1% during trading on Saturday 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. Approximately 5,946,604 shares traded hands during mid-day trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

A number of other equities research analysts also recently issued reports on the stock. TD Securities boosted their target price on shares of Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Raymond James Financial lowered their price objective on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research note on Thursday, August 14th. Desjardins cut their target price on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. Finally, BMO Capital Markets lifted their target price 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 given a Hold rating to the company. According to MarketBeat.com, Superior Plus currently has an average rating of “Moderate Buy” and a consensus price target of C$9.41.

Superior Plus Trading Down 21.1%

The stock has a market cap of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18. The firm’s 50 day simple moving average is C$7.83 and its two-hundred day simple moving average is C$7.63. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35.

Superior Plus (TSE:SPB) last announced its quarterly earnings data on Thursday, November 13th. The company reported C($0.47) 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$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 issued a $0.045 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.18 annualized dividend and a dividend yield of 2.9%. Superior Plus’s dividend payout ratio (DPR) is 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.