Scotia Increases Superior Plus (TSE:SPB) Price Target to C$9.00

Key Points

• Scotia raised Superior Plus’s price target from C$8.50 to C$9.00 while maintaining a “sector perform” rating, implying roughly 20% upside from the prior close.
• Analyst sentiment remains cautious: Superior Plus has an average “Hold” rating and a consensus price target of C$8.52, based on three Buy ratings and nine Holds.
• The stock fell C$0.71 to C$7.49 in Monday trading. Recent insider buying totaled 15,000 shares over 90 days, while the company reported C$1.25 billion in quarterly revenue and C$0.94 EPS.

Superior Plus (TSE:SPB - Get Free Report) had its price target increased by stock analysts at Scotia from C$8.50 to C$9.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotia's price target points to a potential upside of 20.16% from the company's previous close.

Several other brokerages also recently weighed in on SPB. National Bank Financial increased their target price on shares of 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. Scotiabank upped their price objective on Superior Plus from C$7.00 to C$8.50 and gave the company a "sector perform" rating in a research note on Tuesday, May 19th. TD upped their price objective 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. Canadian Imperial Bank of Commerce raised Superior Plus from a "hold" rating to an "outperformer" rating in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada downgraded Superior Plus from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from C$10.00 to C$9.00 in a research note on Monday. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, Superior Plus has an average rating of "Hold" and a consensus target price of C$8.52.

Superior Plus Stock Performance

TSE:SPB traded down C$0.71 during trading hours on Monday, reaching C$7.49. 781,778 shares of the company's stock were exchanged, compared to its average volume of 910,653. 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 50-day moving average of C$8.07 and a 200 day moving average of C$7.45. 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 issued its quarterly earnings data on Wednesday, May 13th. The company reported C$0.94 earnings per share (EPS) for the quarter. The company had revenue of C$1.25 billion for the quarter. Superior Plus had a negative net margin of 0.15% and a negative return on equity of 0.41%.

Insider Activity at Superior Plus

In other news, insider Dale Alan Winger bought 3,000 shares of Superior Plus stock in a transaction dated Friday, June 5th. The stock was bought at an average price of C$8.38 per share, for a total transaction of C$25,140.00. Following the purchase, the insider owned 48,000 shares of the company's stock, valued at approximately C$402,240. The trade was a 6.67% increase in their ownership of the stock. In the last ninety days, insiders have acquired 15,000 shares of company stock valued at $118,360. 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.

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