Superior Plus (TSE:SPB) Rating Lowered to Sector Perform at Scotiabank

Superior Plus (TSE:SPB) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Monday,BayStreet.CA reports. They presently have a C$6.50 price objective on the stock, down from their prior price objective of C$8.50. Scotiabank’s price objective would indicate a potential upside of 1.72% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus decreased their price target on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating on the stock in a report on Monday. National Bank Financial dropped their price target on shares of Superior Plus from C$7.00 to C$6.00 and set a “sector perform” rating for the company in a research note on Monday. TD Securities dropped their target price on shares of Superior Plus from C$8.50 to C$7.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank Of Canada dropped their price objective on Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating for the company in a report on Monday. Finally, Raymond James Financial lowered Superior Plus from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$9.75 to C$8.50 in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$7.80.

Superior Plus Price Performance

Superior Plus stock traded down C$0.09 on Monday, reaching C$6.39. The company’s stock had a trading volume of 2,011,652 shares, compared to its average volume of 956,645. 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 cap of C$1.42 billion, a price-to-earnings ratio of 91.29 and a beta of 0.49. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67. The business’s fifty day moving average price is C$7.27 and its 200 day moving average price is C$7.43.

Superior Plus (TSE:SPB) last announced its earnings results on Thursday, February 19th. The company reported C$0.33 earnings per share (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.

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.