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

Shares of Superior Plus Corp. (TSE:SPB) fell 21.1% during trading on Friday 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. 5,946,604 shares changed hands during mid-day trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

Several other equities analysts have also recently weighed in on SPB. BMO Capital Markets increased their price target on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Raymond James Financial reduced their price objective on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research report on Thursday, August 14th. Desjardins lowered their target price 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. Finally, TD Securities boosted their price target on Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Superior Plus presently has an average rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Trading Down 21.1%

The stock has a market capitalization of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18. The stock’s 50 day moving average price is C$7.83 and its 200-day moving average price is C$7.62. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35.

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

Superior Plus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were paid a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, September 29th. Superior Plus’s dividend payout ratio (DPR) 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.