Superior Plus (TSE:SPB) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Superior Plus Corp. (TSE:SPB)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$7.29 and traded as high as C$7.99. Superior Plus shares last traded at C$7.82, with a volume of 330,258 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SPB shares. Scotiabank lifted their target price on Superior Plus from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research report on Tuesday, May 19th. Canadian Imperial Bank of Commerce upgraded Superior Plus from a “hold” rating to an “outperformer” rating in a report on Tuesday, April 21st. National Bank Financial raised their price objective on Superior Plus from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Desjardins boosted their price objective 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, May 15th. Finally, 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 research report on Friday, May 15th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Superior Plus currently has a consensus rating of “Hold” and an average price target of C$8.48.

Superior Plus Price Performance

The company has a debt-to-equity ratio of 193.28, a current ratio of 1.22 and a quick ratio of 0.46. The company has a market capitalization of C$1.68 billion, a PE ratio of 37.19 and a beta of 0.30. The stock’s 50 day simple moving average is C$7.88 and its 200-day simple moving average is C$7.29.

Superior Plus (TSE:SPB) last issued its quarterly earnings results on Wednesday, May 13th. The company reported C$0.94 earnings per share (EPS) for the quarter. Superior Plus had a net margin of 2.01% and a return on equity of 5.20%. The business had revenue of C$1.25 billion for the quarter.

Insider Activity at Superior Plus

In related news, insider Dale Alan Winger acquired 10,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of C$7.65 per share, with a total value of C$76,500.00. Following the completion of the transaction, the insider owned 41,000 shares of the company’s stock, valued at C$313,650. The trade was a 32.26% increase in their ownership of the stock. Insiders have acquired a total of 15,000 shares of company stock valued at $118,360 in the last three months. Insiders own 0.54% of the company’s stock.

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.