ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Superior Plus (TSE:SPB) Stock

Key Points

• ATB Cormark raised its price target on Superior Plus to C$8.50 (from C$8.00) and maintained an outperform rating, implying roughly a 13.48% upside from the prior close.
• Analyst coverage is mixed: MarketBeat shows a consensus "Hold" with an average price target of C$7.82, after several firms cut targets while a few others upgraded or changed ratings.
• SPB last traded at C$7.49 (down 0.3%), has a market cap of C$1.61B, reported quarterly EPS of C$0.37, but shows high leverage and weak liquidity with a debt-to-equity of 244.09 and quick/current ratios of 0.46/0.95.

Superior Plus (TSE:SPB - Get Free Report) had its price objective raised by investment analysts at ATB Cormark Capital Markets from C$8.00 to C$8.50 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' target price indicates a potential upside of 13.48% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus lowered their target price on shares of Superior Plus from C$10.00 to C$9.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. National Bank Financial lowered their target price 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, February 23rd. Raymond James Financial downgraded shares of Superior Plus from a "moderate buy" rating to a "hold" rating and lowered their target price for the company from C$9.75 to C$8.50 in a research note on Monday, February 23rd. Canadian Imperial Bank of Commerce upgraded shares of Superior Plus from a "hold" rating to an "outperformer" rating in a research note on Tuesday. Finally, Royal Bank Of Canada lowered their target price on shares of Superior Plus from C$11.00 to C$10.00 and set an "outperform" rating for the company in a research note on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$7.82.

Superior Plus Stock Down 0.3%

SPB stock traded down C$0.02 during trading on Thursday, hitting C$7.49. 471,427 shares of the company's stock traded hands, compared to its average volume of 1,038,462. The firm has a market capitalization of C$1.61 billion, a P/E ratio of 29.96 and a beta of 0.21. The business has a fifty day simple moving average of C$6.78 and a two-hundred day simple moving average of C$7.19. The company has a quick ratio of 0.46, a current ratio of 0.95 and a debt-to-equity ratio of 244.09. Superior Plus has a 1 year low of C$6.06 and a 1 year high of C$8.34.

Superior Plus (TSE:SPB - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported C$0.37 earnings per share for the quarter. The company had revenue of C($3.43) million during the quarter. Superior Plus had a net margin of 2.49% and a return on equity of 6.95%.

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.

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