Superior Plus (TSE:SPB) Stock Price Crosses Above 200-Day Moving Average of $9.79

Superior Plus Corp. (TSE:SPB)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$9.79 and traded as high as C$10.16. Superior Plus shares last traded at C$10.10, with a volume of 716,621 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on SPB. Raymond James downgraded shares of Superior Plus from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from C$12.50 to C$11.50 in a report on Thursday, January 4th. CIBC cut their price objective on shares of Superior Plus from C$16.00 to C$14.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. TD Securities cut their target price on Superior Plus from C$13.50 to C$13.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Finally, Scotiabank decreased their price target on Superior Plus from C$12.75 to C$12.00 and set a “sector perform” rating on the stock in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Superior Plus currently has a consensus rating of “Moderate Buy” and an average price target of C$12.69.

Superior Plus Price Performance

The company has a current ratio of 0.87, a quick ratio of 0.46 and a debt-to-equity ratio of 140.14. The firm has a market cap of C$2.51 billion, a P/E ratio of 43.91 and a beta of 0.79. The business has a 50-day moving average of C$9.60 and a two-hundred day moving average of C$9.79.

Superior Plus (TSE:SPB) last announced its earnings results on Wednesday, February 21st. The company reported C$0.27 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.31 by C($0.04). Superior Plus had a return on equity of 4.77% and a net margin of 1.54%. The firm had revenue of C$985.80 million for the quarter, compared to the consensus estimate of C$1.21 billion. On average, sell-side analysts anticipate that Superior Plus Corp. will post 0.4397254 earnings per share for the current fiscal year.

Superior Plus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.13%. Superior Plus’s payout ratio is presently 313.04%.

Insiders Place Their Bets

In other news, Director Allan Angus Macdonald purchased 53,022 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost of C$9.45 per share, with a total value of C$500,983.67. Corporate insiders own 0.49% of the company’s stock.

Superior Plus Company Profile

Superior Plus Corp. distributes and markets propane and distillates in both the United States and Canada. It operates through three segments: The United States Retail Propane Distribution (U.S. Propane); Canadian Retail Propane Distribution (Canadian Propane); and North American Wholesale Propane Distribution (Wholesale Propane).