Superior Plus (TSE:SPB) Stock Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Superior Plus shares moved above their 200-day moving average, reaching C$7.72 before closing at C$7.47 on trading volume of 1.13 million shares.
• Analysts have raised several price targets, with the consensus target now at C$8.60; however, coverage remains cautious, with three Buy ratings and nine Holds for an overall “Hold” consensus.
• The company has a C$1.60 billion market capitalization but carries significant leverage, including a debt-to-equity ratio of 193.48. An insider recently purchased 3,000 shares at C$8.38 each.

Superior Plus Corp. (TSE:SPB - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.47 and traded as high as C$7.72. Superior Plus shares last traded at C$7.47, with a volume of 1,126,271 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. ATB Cormark Capital Markets lifted their price target on Superior Plus from C$8.50 to C$9.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Scotiabank increased their price objective on shares of Superior Plus from C$7.00 to C$8.50 and gave the company a "sector perform" rating in a research report on Tuesday, May 19th. Scotia raised their price objective on shares of Superior Plus from C$8.50 to C$9.00 and gave the company a "sector perform" rating in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce raised shares of Superior Plus from a "hold" rating to an "outperformer" rating in a report on Tuesday, April 21st. Finally, Desjardins upped their target price on shares of Superior Plus from C$8.00 to C$8.75 and gave the stock a "hold" rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of C$8.60.

Superior Plus Stock Performance

The business has a fifty day moving average price of C$7.96 and a 200-day moving average price of C$7.47. The stock has a market capitalization of C$1.60 billion, a P/E ratio of 747.00 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.

Insider Activity

In related news, insider Dale Alan Winger purchased 3,000 shares of Superior Plus stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of C$8.38 per share, for a total transaction of C$25,140.00. Following the completion of the purchase, the insider directly owned 48,000 shares of the company's stock, valued at C$402,240. The trade was a 6.67% increase in their position. 0.54% of the stock is currently owned by insiders.

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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