Royal Bank Of Canada Downgrades Superior Plus (TSE:SPB) to Sector Perform

Key Points

• Royal Bank of Canada downgraded Superior Plus from “outperform” to “sector perform” and cut its price target from C$10.00 to C$9.00, implying roughly 20% upside from the prior close.
• Superior Plus shares fell 8.7% to C$7.49, while analysts overall maintain a “hold” consensus with an average price target of C$8.52.
• An insider purchased 10,000 shares at C$7.65, contributing to 15,000 shares of insider buying over the past 90 days.

Superior Plus (TSE:SPB - Get Free Report) was downgraded by equities research analysts at Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note issued on Monday,BayStreet.CA reports. They currently have a C$9.00 target price on the stock, down from their prior target price of C$10.00. Royal Bank Of Canada's target price indicates a potential upside of 20.16% from the company's previous close.

A number of other research analysts also recently weighed in on SPB. Stifel Nicolaus upped their target price on Superior Plus from C$9.00 to C$10.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. TD raised their target price on Superior Plus from C$7.50 to C$8.00 and gave the company a "hold" rating in a research note on Friday, May 15th. ATB Cormark Capital Markets upped their price target on Superior Plus from C$8.50 to C$9.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. National Bank Financial upped their price target on Superior Plus from C$7.50 to C$8.50 and gave the stock a "sector perform" rating in a research note on Monday, June 1st. Finally, Scotiabank increased their price objective on Superior Plus from C$7.00 to C$8.50 and gave the stock a "sector perform" rating in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of C$8.52.

Superior Plus Trading Down 8.7%

Shares of TSE:SPB traded down C$0.71 on Monday, hitting C$7.49. The company had a trading volume of 781,778 shares, compared to its average volume of 910,653. The firm's 50-day simple moving average is C$8.07 and its two-hundred day simple moving average is C$7.45. The firm has a market capitalization of C$1.61 billion, a price-to-earnings ratio of 35.67 and a beta of 0.35. The company has a quick ratio of 0.46, a current ratio of 0.91 and a debt-to-equity ratio of 193.48. Superior Plus has a 1 year low of C$6.06 and a 1 year high of C$8.86.

Superior Plus (TSE:SPB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported C$0.94 earnings per share (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$1.25 billion for the quarter.

Insider Buying and Selling at Superior Plus

In other Superior Plus news, insider Dale Alan Winger bought 10,000 shares of the firm's stock in a transaction on Friday, May 15th. The stock was acquired at an average price of C$7.65 per share, with a total value of C$76,500.00. Following the completion of the purchase, the insider owned 41,000 shares of the company's stock, valued at approximately C$313,650. This trade represents a 32.26% increase in their ownership of the stock. Insiders have purchased a total of 15,000 shares of company stock worth $118,360 over the last ninety days. 0.54% of the stock is currently owned by company insiders.

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.

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.

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