Desjardins Issues Pessimistic Forecast for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its price objective decreased by research analysts at Desjardins from C$8.75 to C$8.25 in a report issued on Monday, BayStreet reports. The firm currently has a “hold” rating on the stock. Desjardins‘s price objective indicates a potential upside of 19.74% from the company’s current price.

Several other research firms have also recently issued reports on SPB. Royal Bank Of Canada cut shares of Superior Plus from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 10th. Scotia boosted their price target 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. Finally, TD decreased their price target on shares of Superior Plus from C$8.00 to C$7.50 in a report on Tuesday, October 20th. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$8.52.

Superior Plus Price Performance

Shares of Superior Plus stock traded up C$0.06 on Monday, reaching C$6.89. The stock had a trading volume of 361,789 shares, compared to its average volume of 837,894. The business’s 50 day moving average is C$7.06 and its two-hundred day moving average is C$7.51. 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 1 year low of C$6.06 and a 1 year high of C$8.86. The company has a market cap of C$1.48 billion, a P/E ratio of 689.00 and a beta of 0.43.

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.