Superior Plus (TSE:SPB) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Superior Plus (TSE:SPB) from a hold rating to an outperformer rating in a research report released on Tuesday morning, MarketBeat.com reports.

Several other equities research analysts have also weighed in on SPB. Desjardins lowered Superior Plus from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$8.75 to C$7.00 in a research report on Monday, February 23rd. Scotiabank downgraded shares of Superior Plus from an “outperform” rating to a “hold” rating and reduced their price target for the company from C$8.50 to C$6.50 in a report on Monday, February 23rd. ATB Cormark Capital Markets lowered their price target on shares of Superior Plus from C$9.00 to C$8.00 and set an “outperform” rating for the company in a research report on Monday, February 23rd. National Bank Financial cut their price objective on shares of Superior Plus from C$7.00 to C$6.00 and set a “sector perform” rating on the stock in a research report on Monday, February 23rd. Finally, TD Securities lowered shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Superior Plus has an average rating of “Hold” and a consensus target price of C$7.82.

Superior Plus Stock Performance

Shares of SPB stock opened at C$7.46 on Tuesday. The company has a market cap of C$1.60 billion, a P/E ratio of 29.84 and a beta of 0.21. The business has a 50 day moving average of C$6.78 and a two-hundred day moving average of C$7.20. Superior Plus has a 52 week low of C$6.06 and a 52 week high of C$8.34. The company has a quick ratio of 0.46, a current ratio of 0.95 and a debt-to-equity ratio of 244.09.

Superior Plus (TSE:SPB) last announced its quarterly earnings results on Thursday, February 19th. The company reported C$0.37 earnings per share for the quarter. Superior Plus had a return on equity of 6.95% and a net margin of 2.49%.The business had revenue of C($3.43) million for the quarter.

Superior Plus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.045 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.18 annualized dividend and a dividend yield of 2.4%. Superior Plus’s dividend payout ratio (DPR) is 51.81%.

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.