Superior Plus (TSE:SPB) Stock Gets Downgrade from Canadian Imperial Bank of Commerce

Superior Plus (TSE:SPB) was downgraded by equities researchers at Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

A number of other research analysts also recently commented on SPB. Royal Bank Of Canada downgraded shares of Superior Plus from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 10th. TD Securities downgraded Superior Plus from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 4th. BMO Capital Markets cut their target price on shares of Superior Plus from C$8.50 to C$6.50 and set a “market perform” rating for the company in a research report on Thursday. Desjardins decreased their price target on shares of Superior Plus from C$8.25 to C$6.50 and set a “hold” rating for the company in a report on Thursday. Finally, Scotia raised their price target on Superior Plus from C$8.50 to C$9.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$7.62.

Superior Plus Stock Up 2.1%

SPB stock opened at C$5.42 on Wednesday. The company has a debt-to-equity ratio of 218.38, a current ratio of 0.88 and a quick ratio of 0.46. The firm has a market capitalization of C$1.16 billion, a P/E ratio of 30.11 and a beta of 0.31. Superior Plus has a 52-week low of C$5.11 and a 52-week high of C$8.86. The company’s 50 day simple moving average is C$6.80 and its 200-day simple moving average is C$7.28.

Superior Plus (TSE:SPB) last posted its quarterly earnings data on Tuesday, November 10th. The company reported C($0.53) EPS for the quarter. Superior Plus had a return on equity of 5.33% and a net margin of 1.88%. The firm had revenue of C$541.12 million during the quarter. During the same period last year, the company earned ($0.47) earnings per share.

Recent Superior Plus Headlines

Investors following SPB have been watching these headlines:

• Positive Sentiment: TD upgraded Superior Plus from “sell” to “hold,” setting a C$5.50 target—only modestly above the cited C$5.42 share price. TD analyst rating
• Neutral Sentiment: Superior Plus reported that its Q3 net loss narrowed. However, the earnings report cited a loss of C$0.53 per share, compared with C$0.47 a year earlier, tempering the improvement. Superior Plus Q3 net loss narrows
• Negative Sentiment: Several analysts lowered their targets, signaling reduced expectations: BMO and Desjardins cut theirs to C$6.50, while ATB Cormark and Raymond James lowered theirs to C$7.00. National Bank Financial initiated a C$6.50 target. The new targets remain above the cited share price, but the downward revisions could weigh on sentiment. Analyst target changes

Superior Plus Company Profile

Superior is a North American distributor and marketer of propane, compressed natural gas (‘CNG’), hydrogen and related products and services, and transports renewable natural gas (‘RNG’) from production facilities to natural gas distribution networks. The company is headquartered in Toronto, Ontario, and trades on the Toronto Stock Exchange (‘TSX’) under the symbol SPB. Superior has approximately 4,400 employees located in Canada and the United States.