Superior Plus (TSE:SPB) Price Target Cut to C$6.50 by Analysts at Desjardins

Key Points

• Desjardins cut its price target on Superior Plus to C$6.50 from C$8.25 and maintained a Hold rating; the new target implies 19.49% upside from the current share price.
• Analyst sentiment is broadly neutral: MarketBeat reports an average Hold rating and a C$7.62 average price target, with two Buy, nine Hold, and one Sell ratings.
• Shares rose 2.4% to C$5.44 on Thursday. Superior Plus reported quarterly earnings per share of C($0.53) and revenue of C$541.12 million.

Superior Plus (TSE:SPB - Get Free Report) had its price target lowered by equities researchers at Desjardins from C$8.25 to C$6.50 in a research note issued on Thursday, BayStreet reports. The firm currently has a "hold" rating on the stock. Desjardins's target price points to a potential upside of 19.49% from the company's current price.

Several other brokerages also recently weighed in on SPB. National Bank Financial set a C$6.50 price target on Superior Plus and gave the stock a "sector perform" rating in a report on Thursday. Scotia increased their target price on shares of 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. Royal Bank Of Canada lowered shares of Superior Plus from an "outperform" rating to a "sector perform" rating in a research note on Monday, August 10th. Raymond James Financial reduced their price target on shares of Superior Plus from C$8.50 to C$7.00 and set a "market perform" rating for the company in a research report on Thursday. Finally, TD raised shares of Superior Plus from a "sell" rating to a "hold" rating and set a C$5.50 price target for the company in a research report on Thursday. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Superior Plus has an average rating of "Hold" and an average price target of C$7.62.

Superior Plus Stock Up 2.4%

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

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

About Superior Plus

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.

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