Superior Plus (TSE:SPB) Stock Gets Price Target Trim from Desjardins

Superior Plus (TSE:SPB) had its price target reduced by Desjardins from C$8.25 to C$6.50 in a research report sent to investors on Thursday,BayStreet reports. They currently have a hold rating on the stock.

Other equities research analysts have also issued research reports about the company. Scotia upped their target price on Superior Plus from C$8.50 to C$9.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. TD Securities downgraded Superior Plus from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 4th. TD raised Superior Plus from a “sell” rating to a “hold” rating and set a C$5.50 price target for the company in a report on Thursday. Royal Bank Of Canada downgraded Superior Plus from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 10th. Finally, National Bank Financial set a C$6.50 price objective on Superior Plus and gave the company a “sector perform” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Superior Plus has a consensus rating of “Hold” and an average target price of C$7.62.

Superior Plus Price Performance

Shares of TSE SPB traded up C$0.25 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 50 day moving average of C$6.78 and a 200-day moving average of C$7.27. The company has a market capitalization of C$1.22 billion, a price-to-earnings ratio of 31.50 and a beta of 0.31. Superior Plus has a 12-month low of C$5.11 and a 12-month high of C$8.86. The company has a debt-to-equity ratio of 218.38, a current ratio of 0.88 and a quick ratio of 0.46.

Superior Plus (TSE:SPB) last issued its quarterly earnings data on Tuesday, November 10th. The company reported C($0.53) earnings per share 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 for the quarter. During the same period last year, the business posted ($0.47) earnings per share.

Key Superior Plus News

Here’s some of the latest news about SPB:

• Positive Sentiment: The company’s third-quarter net loss narrowed, while revenue was reported at $380.1 million. Superior Plus Q3 Net Loss Narrows Q3 revenue report
• 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

Superior Plus Company Profile

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.