Superior Plus (TSE:SPB) Trading Down 21.1% Following Analyst Downgrade

Superior Plus Corp. (TSE:SPB) shares dropped 21.1% during mid-day trading on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The company traded as low as C$6.06 and last traded at C$6.29. Approximately 5,946,604 shares changed hands during mid-day trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

SPB has been the topic of a number of other reports. BMO Capital Markets boosted their price target on shares of Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Desjardins lowered their price objective on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Raymond James Financial cut their target price on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research note on Thursday, August 14th. Finally, TD Securities raised their price target on Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Price Performance

The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46. The firm has a market capitalization of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18. The company has a 50-day moving average price of C$7.83 and a 200-day moving average price of C$7.63.

Superior Plus (TSE:SPB) last announced its quarterly earnings data on Thursday, November 13th. The company reported C($0.47) earnings per share (EPS) for the quarter. Superior Plus had a net margin of 1.80% and a return on equity of 4.21%. The firm had revenue of C$470.64 million for the quarter.

Superior Plus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th were issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, September 29th. Superior Plus’s dividend payout ratio is presently 109.01%.

Superior Plus Company Profile

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.