Superior Plus (TSE:SPB) Cut to “Sector Perform” at Royal Bank Of Canada

Royal Bank Of Canada cut shares of Superior Plus (TSE:SPB) from an outperform rating to a sector perform rating in a research report released on Monday morning, MarketBeat reports.

SPB has been the topic of a number of other research reports. Scotiabank boosted their price objective on shares of Superior Plus from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a report on Tuesday, May 19th. Canadian Imperial Bank of Commerce raised shares of Superior Plus from a “hold” rating to an “outperformer” rating in a research report on Tuesday, April 21st. TD raised their target price on Superior Plus from C$7.50 to C$8.00 and gave the company a “hold” rating in a research note on Friday, May 15th. Desjardins lifted their target price on Superior Plus from C$8.00 to C$8.75 and gave the stock a “hold” rating in a research report on Monday. Finally, ATB Cormark Capital Markets boosted their price target on Superior Plus from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Superior Plus has an average rating of “Hold” and a consensus price target of C$8.60.

Superior Plus Trading Up 0.3%

TSE SPB opened at C$7.60 on Monday. The stock has a market cap of C$1.63 billion, a P/E ratio of 36.19 and a beta of 0.35. The company’s fifty day simple moving average is C$8.01 and its 200-day simple moving average is C$7.46. The company has a current ratio of 0.91, a quick ratio of 0.46 and a debt-to-equity ratio of 193.48. Superior Plus has a 52 week low of C$6.06 and a 52 week high of C$8.86.

Superior Plus (TSE:SPB) last released its quarterly earnings results on Wednesday, May 13th. The company reported C$0.94 earnings per share for the quarter. The business had revenue of C$1.25 billion during the quarter. Superior Plus had a negative net margin of 0.15% and a negative return on equity of 0.41%.

Insider Buying and Selling at Superior Plus

In related news, insider Dale Alan Winger purchased 3,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of C$8.38 per share, with a total value of C$25,140.00. Following the completion of the transaction, the insider owned 48,000 shares of the company’s stock, valued at C$402,240. This represents a 6.67% increase in their ownership of the stock. Insiders have purchased a total of 15,000 shares of company stock worth $118,360 over the last three months. 0.54% of the stock is currently owned by company insiders.

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.