Desjardins Issues Positive Forecast for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its price target increased by analysts at Desjardins from C$9.00 to C$9.75 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price points to a potential upside of 36.36% from the stock’s current price.

Several other equities research analysts have also recently weighed in on SPB. BMO Capital Markets increased their price target on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. CIBC raised shares of Superior Plus from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$8.50 to C$9.00 in a research report on Wednesday, December 17th. National Bankshares boosted their price target on shares of Superior Plus from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Scotiabank decreased their price objective on shares of Superior Plus from C$10.00 to C$8.50 in a research report on Monday, November 17th. Finally, TD Securities upgraded shares of Superior Plus from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.28.

Superior Plus Price Performance

Shares of SPB traded down C$0.06 during mid-day trading on Wednesday, reaching C$7.15. The company had a trading volume of 542,832 shares, compared to its average volume of 629,268. The company’s 50 day simple moving average is C$7.18 and its 200 day simple moving average is C$7.38. The company has a market capitalization of C$1.59 billion, a price-to-earnings ratio of 102.14 and a beta of 0.49. Superior Plus has a 1-year low of C$5.84 and a 1-year high of C$8.34. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67.

Superior Plus (TSE:SPB) last announced its quarterly earnings results on Thursday, November 13th. The company reported C($0.41) earnings per share (EPS) for the quarter. The company had revenue of C$470.64 million for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.

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.