Superior Plus (TSE:SPB) Reaches New 52-Week Low After Analyst Downgrade

Superior Plus Corp. (TSE:SPB)’s share price hit a new 52-week low during trading on Wednesday after TD Securities downgraded the stock from a hold rating to a strong sell rating. The company traded as low as C$6.01 and last traded at C$6.12, with a volume of 1,343,224 shares changing hands. The stock had previously closed at C$6.86.

A number of other research analysts have also recently weighed in on SPB. 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 cut shares of Superior Plus from a “hold” rating to a “sell” rating and set a C$7.50 price objective for the company. in a research note on Thursday. Desjardins dropped their price objective on shares of Superior Plus from C$8.75 to C$8.25 and set a “hold” rating for the company in a research report on Monday, October 26th. Finally, Scotia upped their price objective on shares of Superior Plus from C$8.50 to C$9.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$8.52.

Superior Plus Price Performance

The business’s 50-day simple moving average is C$6.96 and its 200 day simple moving average is C$7.32. The company has a market capitalization of C$1.25 billion, a P/E ratio of 581.00 and a beta of 0.31. The company has a current ratio of 0.91, a quick ratio of 0.46 and a debt-to-equity ratio of 193.48.

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.