Superior Plus (TSE:SPB) Downgraded to “Hold” Rating by Desjardins

Superior Plus (TSE:SPB) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued to investors on Monday,BayStreet.CA reports. They presently have a C$7.00 price target on the stock, down from their previous price target of C$8.75. Desjardins’ price target would indicate a potential upside of 9.55% from the company’s previous close.

Other analysts have also issued reports about the company. BMO Capital Markets lowered Superior Plus from an “outperform” rating to a “hold” rating and cut their price target for the company from C$9.00 to C$8.00 in a research note on Friday. Scotiabank cut their price target on shares of Superior Plus from C$10.00 to C$8.50 in a report on Monday, November 17th. National Bank Financial boosted their price objective on shares of Superior Plus from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Royal Bank Of Canada lowered their target price on Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating for the company in a research report on Monday. Finally, TD Securities cut their target price on Superior Plus from C$8.50 to C$7.00 and set a “buy” rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$7.80.

Superior Plus Price Performance

Shares of TSE SPB traded down C$0.09 during midday trading on Monday, reaching C$6.39. 2,011,652 shares of the company were exchanged, compared to its average volume of 956,645. The stock’s 50-day moving average price is C$7.27 and its 200-day moving average price is C$7.43. The stock has a market cap of C$1.42 billion, a P/E ratio of 91.29 and a beta of 0.49. 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 has a one year low of C$5.85 and a one year high of C$8.34.

Superior Plus (TSE:SPB) last released 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 for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.

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.