Superior Plus (TSE:SPB) Stock Gets Price Target Cut from BMO Capital Markets

Superior Plus (TSE:SPB) had its price target trimmed by BMO Capital Markets from C$8.50 to C$6.50 in a research note released on Thursday morning,BayStreet reports. The firm currently has a market perform rating on the stock.

A number of other analysts have also issued reports on SPB. National Bank Financial set a C$6.50 target price on Superior Plus and gave the company a “sector perform” rating in a report on Thursday. ATB Cormark Capital Markets cut their price target on Superior Plus from C$9.00 to C$7.00 and set a “sector perform” rating for the company in a report on Thursday. Royal Bank Of Canada cut Superior Plus from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 10th. TD Securities downgraded shares of Superior Plus from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 4th. Finally, Scotia boosted their target price on shares of Superior Plus from C$8.50 to C$9.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$7.62.

Superior Plus Stock Performance

Shares of TSE:SPB traded up C$0.25 during midday trading on Thursday, hitting C$5.67. The company’s stock had a trading volume of 1,295,765 shares, compared to its average volume of 865,544. The stock has a market capitalization of C$1.22 billion, a price-to-earnings ratio of 31.50 and a beta of 0.31. The stock’s 50 day simple moving average is C$6.78 and its 200 day simple moving average is C$7.27. Superior Plus has a fifty-two week low of C$5.11 and a fifty-two week high of C$8.86. The company has a debt-to-equity ratio of 218.38, a quick ratio of 0.46 and a current ratio of 0.88.

Superior Plus (TSE:SPB) last posted its quarterly earnings data on Tuesday, November 10th. The company reported C($0.53) EPS for the quarter. Superior Plus had a return on equity of 5.33% and a net margin of 1.88%. The business had revenue of C$541.12 million during the quarter. During the same quarter in the previous year, the firm earned ($0.47) EPS.

Key Headlines Impacting Superior Plus

Investors following SPB have been watching these headlines:

• Positive Sentiment: TD Securities upgraded Superior Plus from “strong sell” to “hold,” a more favorable stance, though still not a buy rating. TD Securities ratings
• Negative Sentiment: CIBC lowered its rating from “strong buy” to “hold,” removing a bullish endorsement. CIBC ratings
• Negative Sentiment: Several analysts reduced their targets: BMO and Desjardins to C$6.50, ATB Cormark and Raymond James to C$7.00, and TD to C$5.50. Although some targets imply upside from the cited C$5.42 price, the broad cuts signal lower expectations. Analyst target changes

About Superior Plus

Superior is a North American distributor and marketer of propane, compressed natural gas (‘CNG’), hydrogen and related products and services, and transports renewable natural gas (‘RNG’) from production facilities to natural gas distribution networks. The company is headquartered in Toronto, Ontario, and trades on the Toronto Stock Exchange (‘TSX’) under the symbol SPB. Superior has approximately 4,400 employees located in Canada and the United States.