Superior Plus (TSE:SPB) Price Target Raised to C$9.00 at CIBC

Superior Plus (TSE:SPB) had its price target raised by CIBC from C$8.50 to C$9.00 in a research report sent to investors on Thursday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on SPB. TD Securities boosted their price target on Superior Plus from C$7.50 to C$9.00 in a research note on Thursday, December 5th. Scotiabank decreased their price target on shares of Superior Plus from C$12.00 to C$9.00 in a research report on Monday, November 11th. Desjardins cut their price objective on shares of Superior Plus from C$10.50 to C$9.50 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Cibc World Mkts raised Superior Plus to a “strong-buy” rating in a report on Friday, November 8th. Finally, BMO Capital Markets cut their price target on Superior Plus from C$10.00 to C$9.00 in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$9.95.

Superior Plus Price Performance

TSE SPB opened at C$6.34 on Thursday. The company has a debt-to-equity ratio of 133.90, a current ratio of 0.75 and a quick ratio of 0.46. Superior Plus has a 1-year low of C$5.15 and a 1-year high of C$10.36. The stock has a market capitalization of C$1.58 billion, a price-to-earnings ratio of -126.80 and a beta of 0.76. The business’s fifty day moving average price is C$6.40 and its 200-day moving average price is C$7.44.

Superior Plus Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, December 31st. Superior Plus’s dividend payout ratio (DPR) is currently -1,440.00%.

Insider Transactions at Superior Plus

In other news, Director Patrick Edward Gottschalk acquired 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of C$6.32 per share, with a total value of C$632,150.40. Also, Director Shawn Bradley Vammen bought 5,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average price of C$6.35 per share, with a total value of C$31,750.00. Insiders own 0.54% of the company’s stock.

About Superior Plus

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.