Superior Plus (TSE:SPB) Stock Price Expected to Rise, CIBC Analyst Says

Superior Plus (TSE:SPB) had its price objective increased by stock analysts at CIBC from C$8.50 to C$9.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price indicates a potential upside of 41.96% from the company’s previous close.

SPB has been the topic of a number of other reports. Scotiabank dropped their target price on shares of Superior Plus from C$12.00 to C$9.00 in a report on Monday, November 11th. BMO Capital Markets dropped their price target on Superior Plus from C$10.00 to C$9.00 in a report on Tuesday, October 22nd. Desjardins reduced their price objective on Superior Plus from C$10.50 to C$9.50 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Cibc World Mkts raised Superior Plus to a “strong-buy” rating in a research report on Friday, November 8th. Finally, TD Securities increased their price target on Superior Plus from C$7.50 to C$9.00 in a research report on Thursday, December 5th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$9.95.

Superior Plus Price Performance

Shares of Superior Plus stock traded up C$0.02 during trading on Thursday, hitting C$6.34. The stock had a trading volume of 194,892 shares, compared to its average volume of 866,310. The business has a fifty day moving average of C$6.40 and a two-hundred day moving average of C$7.45. The firm has a market cap of C$1.58 billion, a P/E ratio of -126.80 and a beta of 0.76. Superior Plus has a fifty-two week low of C$5.15 and a fifty-two week high of C$10.36. The company has a debt-to-equity ratio of 133.90, a current ratio of 0.75 and a quick ratio of 0.46.

Insiders Place Their Bets

In other Superior Plus news, Director Patrick Edward Gottschalk acquired 100,000 shares of Superior Plus stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of C$6.32 per share, with a total value of C$632,150.40. Also, Director Shawn Bradley Vammen bought 5,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were acquired at an average cost of C$6.35 per share, for a total transaction of C$31,750.00. Insiders own 0.54% of the company’s stock.

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.