ATB Cormark Capital Markets Cuts Superior Plus (TSE:SPB) Price Target to C$8.00

Superior Plus (TSE:SPB) had its price target trimmed by ATB Cormark Capital Markets from C$9.00 to C$8.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Superior Plus from C$10.00 to C$9.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets downgraded Superior Plus from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$9.00 to C$8.00 in a research note on Friday, February 20th. Royal Bank Of Canada reduced their price objective on Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating for the company in a research report on Monday. Scotiabank cut Superior Plus from an “outperform” rating to a “hold” rating and lowered their price objective for the company from C$8.50 to C$6.50 in a research note on Monday. Finally, National Bank Financial dropped their target price on Superior Plus from C$7.00 to C$6.00 and set a “sector perform” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$7.80.

Superior Plus Stock Performance

Shares of Superior Plus stock opened at C$6.42 on Monday. Superior Plus has a 12 month low of C$5.85 and a 12 month high of C$8.34. The firm has a market capitalization of C$1.43 billion, a P/E ratio of 91.71 and a beta of 0.49. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35. The business has a fifty day simple moving average of C$7.24 and a two-hundred day simple moving average of C$7.42.

Superior Plus (TSE:SPB) last released its earnings results on Thursday, February 19th. The company reported C$0.33 earnings per share 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($3.43) million for the quarter.

Superior Plus News Summary

Here are the key news stories impacting Superior Plus this week:

• Neutral Sentiment: Recent fundamentals: Superior reported C$0.33 EPS for the quarter (Feb. 19), a thin net margin (~1.8%) and metrics showing high leverage and tight liquidity (debt-to-equity ~193%, current ratio ~0.67). These factors likely explain analysts’ caution.
• Negative Sentiment: Desjardins lowered its rating on SPB, joining other shops in trimming expectations. Superior Plus (TSE:SPB) Stock Rating Lowered by Desjardins
• Negative Sentiment: Stifel Nicolaus reduced its outlook for SPB, contributing to the negative analyst tone. Stifel Nicolaus Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: ATB Cormark Capital Markets lowered expectations for the shares. ATB Cormark Capital Markets Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: Scotiabank downgraded SPB to a “Hold,” reducing buy-side conviction. Scotiabank Downgrades Superior Plus (TSE:SPB) to Hold
• Negative Sentiment: Royal Bank of Canada issued a pessimistic forecast for the stock, adding pressure to consensus views. Royal Bank Of Canada Issues Pessimistic Forecast for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: Raymond James lowered its rating on Superior Plus, another downward revision among analysts. Superior Plus (TSE:SPB) Stock Rating Lowered by Raymond James Financial
• Negative Sentiment: National Bank Financial trimmed its expectations for SPB’s share price. National Bank Financial Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: TD Securities downgraded Superior Plus from “strong-buy” to “hold,” per a Zacks summary — adding to the breadth of downgrades. TD Securities Downgrade Summary (via Zacks)

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. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.