Superior Plus (TSE:SPB) Price Target Cut to C$8.50 by Analysts at CIBC

Superior Plus (TSE:SPB) had its price target dropped by analysts at CIBC from C$9.00 to C$8.50 in a report issued on Friday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 39.34% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. TD Securities raised their target price on shares of Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Raymond James Financial cut their price target on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 14th. BMO Capital Markets increased their price target on shares of Superior Plus from C$8.00 to C$10.00 in a research report on Friday, October 10th. Finally, Desjardins decreased their price target on shares of Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$9.41.

Superior Plus Stock Performance

SPB traded down C$1.87 on Friday, hitting C$6.10. 4,733,823 shares of the stock traded hands, compared to its average volume of 780,790. The business has a fifty day moving average price of C$7.85 and a two-hundred day moving average price of C$7.63. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35. The firm has a market capitalization of C$1.36 billion, a PE ratio of 29.05 and a beta of 0.18. Superior Plus has a 52 week low of C$5.77 and a 52 week high of C$8.34.

Superior Plus (TSE:SPB) last posted its quarterly earnings results on Thursday, November 13th. The company reported C($0.47) earnings per share for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.The business had revenue of C$470.64 million for the quarter.

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.