Superior Plus (TSE:SPB) Lowered to “Neutral” Rating by Canadian Imperial Bank of Commerce

Superior Plus (TSE:SPB) was downgraded by equities researchers at Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a report released on Friday,BayStreet.CA reports. They currently have a C$8.00 price objective on the stock, down from their prior price objective of C$9.00. Canadian Imperial Bank of Commerce’s price target indicates a potential upside of 25.20% from the stock’s previous close.

SPB has been the subject of several other research reports. National Bank Financial lifted their price objective on Superior Plus from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. TD Securities upgraded Superior Plus from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Scotiabank cut their price target on Superior Plus from C$10.00 to C$8.50 in a report on Monday, November 17th. Finally, Desjardins upped their price target on shares of Superior Plus from C$9.00 to C$9.75 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Superior Plus currently has an average rating of “Moderate Buy” and an average price target of C$8.66.

Superior Plus Price Performance

Shares of SPB stock traded down C$1.55 during mid-day trading on Friday, reaching C$6.39. The company’s stock had a trading volume of 6,001,169 shares, compared to its average volume of 888,503. The firm’s 50-day moving average is C$7.28 and its two-hundred day moving average is C$7.42. The company has a market cap of C$1.42 billion, a P/E ratio of 91.29 and a beta of 0.49. Superior Plus has a 1-year low of C$5.85 and a 1-year high of C$8.34. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67.

Superior Plus (TSE:SPB) last posted its quarterly earnings data on Thursday, February 19th. The company reported C$0.33 earnings per share for the quarter. The company had revenue of C($3.43) million during the quarter. Superior Plus had a net margin of 1.80% and a return on equity of 4.21%.

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. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.