Superior Plus (TSE:SPB) Price Target Raised to C$8.00

Superior Plus (TSE:SPB) had its price target increased by Desjardins from C$7.75 to C$8.00 in a report published on Wednesday,BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

A number of other equities analysts also recently issued reports on the stock. TD raised their price objective on shares of Superior Plus from C$7.50 to C$8.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Scotiabank raised their price target on Superior Plus from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. National Bank Financial boosted their price objective on Superior Plus from C$7.50 to C$8.50 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Stifel Nicolaus upped their price objective on Superior Plus from C$9.00 to C$10.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Canadian Imperial Bank of Commerce upgraded Superior Plus from a “hold” rating to an “outperformer” rating in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Superior Plus presently has a consensus rating of “Hold” and a consensus target price of C$8.50.

Superior Plus Stock Performance

Superior Plus stock opened at C$7.98 on Wednesday. The company has a debt-to-equity ratio of 193.28, a quick ratio of 0.46 and a current ratio of 1.22. The firm’s fifty day moving average price is C$8.10 and its 200-day moving average price is C$7.43. The stock has a market cap of C$1.71 billion, a P/E ratio of 38.00 and a beta of 0.35. Superior Plus has a fifty-two week low of C$6.06 and a fifty-two week high of C$8.86.

Superior Plus (TSE:SPB) last released its quarterly earnings data on Wednesday, May 13th. The company reported C$0.94 earnings per share for the quarter. Superior Plus had a return on equity of 5.20% and a net margin of 2.01%.The firm had revenue of C$1.25 billion during the quarter.

Insider Transactions at Superior Plus

In related news, insider Dale Alan Winger purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of C$8.38 per share, for a total transaction of C$25,140.00. Following the completion of the transaction, the insider owned 48,000 shares of the company’s stock, valued at approximately C$402,240. This trade represents a 6.67% increase in their ownership of the stock. Over the last three months, insiders acquired 15,000 shares of company stock worth $118,360. Company insiders own 0.54% of the company’s stock.

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