Superior Plus (TSE:SPB) Stock Gets Price Target Cut from Raymond James Financial

Superior Plus (TSE:SPB) had its price objective reduced by Raymond James Financial from C$8.50 to C$7.00 in a research note published on Thursday morning,BayStreet reports. They currently have a market perform rating on the stock.

Several other equities research analysts have also weighed in on the company. TD raised Superior Plus from a “sell” rating to a “hold” rating and set a C$5.50 target price on the stock in a research report on Thursday. National Bank Financial set a C$6.50 price target on Superior Plus and gave the company a “sector perform” rating in a report on Thursday. Scotia increased their price target on shares of Superior Plus from C$8.50 to C$9.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. Royal Bank Of Canada cut shares of Superior Plus from an “outperform” rating to a “sector perform” rating in a report on Monday, August 10th. Finally, TD Securities downgraded shares of Superior Plus from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 4th. One equities research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Superior Plus has a consensus rating of “Hold” and an average target price of C$7.62.

Superior Plus Stock Up 4.6%

TSE:SPB traded up C$0.25 during trading hours on Thursday, hitting C$5.67. The company’s stock had a trading volume of 1,295,765 shares, compared to its average volume of 865,544. Superior Plus has a 52-week low of C$5.11 and a 52-week high of C$8.86. The company has a current ratio of 0.88, a quick ratio of 0.46 and a debt-to-equity ratio of 218.38. The stock has a market capitalization of C$1.22 billion, a P/E ratio of 31.50 and a beta of 0.31. The stock has a fifty day moving average of C$6.78 and a 200-day moving average of C$7.27.

Superior Plus (TSE:SPB) last released its quarterly earnings data on Tuesday, November 10th. The company reported C($0.53) earnings per share (EPS) for the quarter. The business had revenue of C$541.12 million for the quarter. Superior Plus had a return on equity of 5.33% and a net margin of 1.88%. During the same period in the prior year, the company posted ($0.47) earnings per share.

Key Stories Impacting Superior Plus

Here are a few of the latest stories about SPB:

• Positive Sentiment: TD Securities upgraded Superior Plus from “strong sell” to “hold,” a more favorable stance, though still not a buy rating. TD Securities ratings
• Negative Sentiment: CIBC lowered its rating from “strong buy” to “hold,” removing a bullish endorsement. CIBC ratings
• Negative Sentiment: Several analysts reduced their targets: BMO and Desjardins to C$6.50, ATB Cormark and Raymond James to C$7.00, and TD to C$5.50. Although some targets imply upside from the cited C$5.42 price, the broad cuts signal lower expectations. Analyst target changes

Superior Plus Company Profile

Superior is a North American distributor and marketer of propane, compressed natural gas (‘CNG’), hydrogen and related products and services, and transports renewable natural gas (‘RNG’) from production facilities to natural gas distribution networks. The company is headquartered in Toronto, Ontario, and trades on the Toronto Stock Exchange (‘TSX’) under the symbol SPB. Superior has approximately 4,400 employees located in Canada and the United States.