Superior Plus (TSE:SPB) Stock Price Expected to Rise, Scotiabank Analyst Says

Superior Plus (TSE:SPB) had its target price hoisted by research analysts at Scotiabank from C$7.00 to C$8.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 12.58% from the stock’s current price.

A number of other brokerages have also issued reports on SPB. Royal Bank Of Canada decreased their target price on shares of Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. TD increased their target price on shares of Superior Plus from C$7.50 to C$8.00 and gave the stock a “hold” rating in a research report on Friday. Raymond James Financial lowered shares of Superior Plus from a “moderate buy” rating to a “hold” rating and reduced their price target for the stock from C$9.75 to C$8.50 in a research report on Monday, February 23rd. Stifel Nicolaus reduced 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, February 23rd. Finally, TD Securities lowered shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$8.30.

Superior Plus Stock Performance

Shares of TSE:SPB traded down C$0.06 on Tuesday, reaching C$7.55. 261,052 shares of the company’s stock were exchanged, compared to its average volume of 1,045,275. The company has a fifty day moving average of C$6.94 and a 200-day moving average of C$7.14. Superior Plus has a twelve month low of C$6.06 and a twelve month high of C$8.34. The company has a market capitalization of C$1.62 billion, a price-to-earnings ratio of 35.95 and a beta of 0.29. The company has a current ratio of 1.22, a quick ratio of 0.46 and a debt-to-equity ratio of 193.28.

Superior Plus (TSE:SPB) last announced its 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 1.69% and a return on equity of 4.59%. The firm had revenue of C$1.25 billion for the quarter.

Insider Activity

In other news, insider Dale Alan Winger purchased 10,000 shares of Superior Plus stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average price of C$7.65 per share, for a total transaction of C$76,500.00. Following the transaction, the insider owned 41,000 shares of the company’s stock, valued at approximately C$313,650. The trade was a 32.26% increase in their position. Corporate 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.