Superior Plus (TSE:SPB) Price Target Lowered to C$10.00 at Cormark

Superior Plus (TSE:SPB) had its price objective lowered by Cormark from C$12.00 to C$10.00 in a research note released on Monday morning, BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the company. ATB Capital dropped their price objective on Superior Plus from C$14.00 to C$13.00 in a research report on Wednesday, July 24th. TD Securities dropped their price objective on Superior Plus from C$13.00 to C$12.00 and set a buy rating on the stock in a research report on Monday, July 15th. Desjardins dropped their price objective on Superior Plus from C$13.50 to C$11.50 and set a buy rating on the stock in a research report on Thursday, July 18th. National Bank Financial downgraded Superior Plus from a strong-buy rating to a hold rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets dropped their price objective on Superior Plus from C$12.50 to C$12.00 in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of C$12.00.

Superior Plus Price Performance

SPB opened at C$7.98 on Monday. Superior Plus has a 12-month low of C$7.79 and a 12-month high of C$10.90. The company has a current ratio of 0.96, a quick ratio of 0.46 and a debt-to-equity ratio of 129.19. The business’s fifty day simple moving average is C$8.80 and its 200-day simple moving average is C$9.30. The company has a market capitalization of C$1.98 billion, a price-to-earnings ratio of 40.43 and a beta of 0.81.

Superior Plus (TSE:SPB) last issued its quarterly earnings data on Tuesday, May 14th. The company reported C$0.40 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.05). Superior Plus had a net margin of 0.57% and a return on equity of 2.58%. The company had revenue of C$1.21 billion for the quarter, compared to the consensus estimate of C$1.38 billion. On average, equities research analysts anticipate that Superior Plus will post 0.3347732 earnings per share for the current fiscal year.

Superior Plus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 9.02%. The ex-dividend date was Friday, June 28th.

Insider Transactions at Superior Plus

In other news, Senior Officer Kirsten Olsen acquired 3,765 shares of Superior Plus stock in a transaction dated Monday, May 27th. The stock was purchased at an average cost of C$9.37 per share, for a total transaction of C$35,278.05. Company insiders own 0.49% of the company’s stock.

About Superior Plus

Superior Plus Corp. distributes and markets propane, compressed natural gas and renewable energy in both the United States and Canada. The company operates through The United States Retail Propane Distribution (U.S. Propane), Canadian Retail Propane Distribution (Canadian Propane), and North American Wholesale Propane Distribution (Wholesale Propane), and Certarus segments.