Superior Plus (TSE:SPB) Given New C$7.00 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark cut its Superior Plus price target to C$7.00 from C$9.00 while maintaining a “sector perform” rating; the revised target implies 28.68% upside from the prior close.
• Analyst views remain mostly neutral: two rate the stock Buy, nine Hold and one Sell. MarketBeat’s consensus rating is Hold, with an average target of C$7.62.
• Superior Plus shares traded at C$5.44 on Thursday. The company reported a quarterly loss of C$0.53 per share on revenue of C$541.12 million.

Superior Plus (TSE:SPB - Get Free Report) had its target price decreased by investment analysts at ATB Cormark Capital Markets from C$9.00 to C$7.00 in a research report issued on Thursday, BayStreet reports. The brokerage currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets's target price would indicate a potential upside of 28.68% from the company's previous close.

Several other brokerages also recently issued reports on SPB. TD Securities downgraded shares of Superior Plus from a "hold" rating to a "strong sell" rating in a research report on Wednesday, November 4th. TD raised Superior Plus from a "sell" rating to a "hold" rating and set a C$5.50 target price on the stock in a research report on Thursday. Scotia upped their target price 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. National Bank Financial set a C$6.50 target price on Superior Plus and gave the stock a "sector perform" rating in a research note on Thursday. Finally, Raymond James Financial dropped their price target on Superior Plus from C$8.50 to C$7.00 and set a "market perform" rating for the company in a report on Thursday. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of C$7.62.

Superior Plus Stock Performance

Shares of TSE SPB traded up C$0.13 during mid-day trading on Thursday, reaching C$5.44. 1,850,562 shares of the company were exchanged, compared to its average volume of 860,322. The stock has a market capitalization of C$1.17 billion, a P/E ratio of 544.00 and a beta of 0.31. The company has a quick ratio of 0.46, a current ratio of 0.91 and a debt-to-equity ratio of 193.48. The company's 50-day simple moving average is C$6.84 and its 200-day simple moving average is C$7.29. Superior Plus has a twelve month low of C$5.11 and a twelve month high of C$8.86.

Superior Plus (TSE:SPB - Get Free Report) last announced its quarterly earnings results on Tuesday, November 10th. The company reported C($0.53) EPS for the quarter. Superior Plus had a negative net margin of 0.15% and a negative return on equity of 0.41%. The company had revenue of C$541.12 million during the quarter. During the same quarter in the prior year, the business posted ($0.47) EPS.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.