Raymond James Financial Downgrades Superior Plus (TSE:SPB) to Market Perform

Superior Plus (TSE:SPB) was downgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report released on Monday,BayStreet.CA reports. They presently have a C$8.50 target price on the stock, down from their previous target price of C$9.75. Raymond James Financial’s price objective suggests a potential upside of 33.02% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Scotiabank reduced their price target on shares of Superior Plus from C$10.00 to C$8.50 in a research note on Monday, November 17th. BMO Capital Markets lowered shares of Superior Plus from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$9.00 to C$8.00 in a research report on Friday. Canadian Imperial Bank of Commerce downgraded shares of Superior Plus from an “outperform” rating to a “hold” rating and decreased their price target for the company from C$9.00 to C$8.00 in a research note on Friday. Stifel Nicolaus dropped their price objective on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating on the stock in a research note on Monday. Finally, TD Securities decreased their target price on Superior Plus from C$8.50 to C$7.00 and set a “buy” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Superior Plus has a consensus rating of “Hold” and an average price target of C$7.80.

Superior Plus Trading Down 1.4%

Shares of Superior Plus stock traded down C$0.09 during trading on Monday, hitting C$6.39. The stock had a trading volume of 2,011,652 shares, compared to its average volume of 956,645. Superior Plus has a 12 month low of C$5.85 and a 12 month high of C$8.34. The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46. The firm’s fifty day simple moving average is C$7.27 and its 200-day simple moving average is C$7.43. The stock has a market cap of C$1.42 billion, a PE ratio of 91.29 and a beta of 0.49.

Superior Plus (TSE:SPB) last announced its quarterly earnings data on Thursday, February 19th. The company reported C$0.33 earnings per share (EPS) for the quarter. Superior Plus had a net margin of 1.80% and a return on equity of 4.21%. The business had revenue of C($3.43) million during the quarter.

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.