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

Superior Plus (TSE:SPB) had its price target hoisted by research analysts at Scotiabank from C$7.00 to C$8.50 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 12.58% from the stock’s current price.

A number of other brokerages have also recently issued reports on SPB. TD Securities cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Desjardins upped their target price on shares of Superior Plus from C$7.00 to C$7.75 and gave the company a “hold” rating in a report on Friday. ATB Cormark Capital Markets upped their target price on shares of Superior Plus from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank Of Canada dropped their target price on shares of Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating on the stock in a report on Monday, February 23rd. Finally, Canadian Imperial Bank of Commerce raised shares of Superior Plus from a “hold” rating to an “outperformer” rating in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$8.30.

Superior Plus Stock Down 0.8%

TSE:SPB traded down C$0.06 on Tuesday, hitting C$7.55. 261,052 shares of the company’s stock were exchanged, compared to its average volume of 1,045,275. The firm has a 50-day moving average price of C$6.94 and a 200-day moving average price of C$7.14. The company has a debt-to-equity ratio of 193.28, a current ratio of 1.22 and a quick ratio of 0.46. Superior Plus has a 52 week low of C$6.06 and a 52 week high of C$8.34. The company has a market cap of C$1.62 billion, a P/E ratio of 35.95 and a beta of 0.29.

Superior Plus (TSE:SPB) last issued its earnings results on Wednesday, May 13th. The company reported C$0.94 earnings per share (EPS) for the quarter. The company had revenue of C$1.25 billion for the quarter. Superior Plus had a net margin of 1.69% and a return on equity of 4.59%.

Insiders Place Their Bets

In related news, insider Dale Alan Winger purchased 10,000 shares of the stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of C$7.65 per share, with a total value of C$76,500.00. Following the acquisition, the insider directly owned 41,000 shares in the company, valued at C$313,650. The trade was a 32.26% increase in their ownership of the stock. 0.54% of the stock is currently owned by corporate 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.