Superior Plus (TSE:SPB) Cut to Hold at Scotiabank

Scotiabank cut shares of Superior Plus (TSE:SPB) from an outperform rating to a hold rating in a research report released on Monday, MarketBeat Ratings reports. Scotiabank currently has C$6.50 price objective on the stock, down from their previous price objective of C$8.50.

Several other research analysts also recently weighed in on the company. Canadian Imperial Bank of Commerce downgraded Superior Plus from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$9.00 to C$8.00 in a research note on Friday, February 20th. Desjardins lowered shares of Superior Plus from a “buy” rating to a “hold” rating and cut their target price for the stock from C$8.75 to C$7.00 in a research report on Monday. Royal Bank Of Canada reduced their target price on shares of Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating for the company in a research note on Monday. Stifel Nicolaus lowered their price target on shares of Superior Plus from C$10.00 to C$9.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Raymond James Financial downgraded shares of Superior Plus from a “moderate buy” rating to a “hold” rating and cut their price objective for the stock from C$9.75 to C$8.50 in a report on Monday. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$7.80.

Superior Plus Stock Up 1.9%

Superior Plus stock opened at C$6.42 on Monday. The firm has a 50 day moving average price of C$7.24 and a 200-day moving average price of C$7.42. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35. Superior Plus has a twelve month low of C$5.85 and a twelve month high of C$8.34. The company has a market capitalization of C$1.43 billion, a P/E ratio of 91.71 and a beta of 0.49.

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

Key Headlines Impacting Superior Plus

Here are the key news stories impacting Superior Plus this week:

• Neutral Sentiment: Recent fundamentals: Superior reported C$0.33 EPS for the quarter (Feb. 19), a thin net margin (~1.8%) and metrics showing high leverage and tight liquidity (debt-to-equity ~193%, current ratio ~0.67). These factors likely explain analysts’ caution.
• Negative Sentiment: Desjardins lowered its rating on SPB, joining other shops in trimming expectations. Superior Plus (TSE:SPB) Stock Rating Lowered by Desjardins
• Negative Sentiment: Stifel Nicolaus reduced its outlook for SPB, contributing to the negative analyst tone. Stifel Nicolaus Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: ATB Cormark Capital Markets lowered expectations for the shares. ATB Cormark Capital Markets Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: Scotiabank downgraded SPB to a “Hold,” reducing buy-side conviction. Scotiabank Downgrades Superior Plus (TSE:SPB) to Hold
• Negative Sentiment: Royal Bank of Canada issued a pessimistic forecast for the stock, adding pressure to consensus views. Royal Bank Of Canada Issues Pessimistic Forecast for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: Raymond James lowered its rating on Superior Plus, another downward revision among analysts. Superior Plus (TSE:SPB) Stock Rating Lowered by Raymond James Financial
• Negative Sentiment: National Bank Financial trimmed its expectations for SPB’s share price. National Bank Financial Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price
• Negative Sentiment: TD Securities downgraded Superior Plus from “strong-buy” to “hold,” per a Zacks summary — adding to the breadth of downgrades. TD Securities Downgrade Summary (via Zacks)

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.