Desjardins Issues Positive Forecast for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its price target upped by research analysts at Desjardins from C$8.00 to C$8.75 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ target price would indicate a potential upside of 16.82% from the company’s previous close.

SPB has been the subject of a number of other reports. National Bank Financial upped their price target on Superior Plus from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Stifel Nicolaus boosted their target price on shares of Superior Plus from C$9.00 to C$10.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Scotiabank upped their target price on shares of Superior Plus from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research note on Tuesday, May 19th. Canadian Imperial Bank of Commerce upgraded shares of Superior Plus from a “hold” rating to an “outperformer” rating in a report on Tuesday, April 21st. Finally, TD upped their price objective on shares of Superior Plus from C$7.50 to C$8.00 and gave the company a “hold” rating in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$8.52.

Superior Plus Stock Performance

Shares of TSE:SPB traded down C$0.71 during midday trading on Monday, hitting C$7.49. The company’s stock had a trading volume of 781,778 shares, compared to its average volume of 910,653. The company has a debt-to-equity ratio of 193.48, a quick ratio of 0.46 and a current ratio of 0.91. The stock’s 50 day simple moving average is C$8.07 and its 200 day simple moving average is C$7.45. The stock has a market capitalization of C$1.61 billion, a price-to-earnings ratio of 35.67 and a beta of 0.35. Superior Plus has a fifty-two week low of C$6.06 and a fifty-two week high of C$8.86.

Superior Plus (TSE:SPB) last posted its quarterly earnings data on Wednesday, May 13th. The company reported C$0.94 earnings per share for the quarter. Superior Plus had a negative return on equity of 0.41% and a negative net margin of 0.15%.The business had revenue of C$1.25 billion during the quarter.

Insider Buying and Selling

In other Superior Plus news, insider Dale Alan Winger purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of C$7.65 per share, for a total transaction of C$76,500.00. Following the completion of the purchase, the insider directly owned 41,000 shares of the company’s stock, valued at approximately C$313,650. This represents a 32.26% increase in their ownership of the stock. Insiders acquired 15,000 shares of company stock valued at $118,360 over the last three months. 0.54% of the stock is owned by company insiders.

About Superior Plus

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.