Superior Plus (TSE:SPB) Stock Price Down 0.9% - Time to Sell?

Key Points

• Superior Plus Corp's stock fell 0.9% to C$6.83, with trading volume significantly higher than average at approximately 1.5 million shares.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a target price averaging C$9.95.
• The company recently announced a quarterly dividend of $0.045 per share, resulting in an annualized dividend yield of 2.7%.

Superior Plus Corp. (TSE:SPB - Get Free Report) shares dropped 0.9% during trading on Wednesday . The stock traded as low as C$6.79 and last traded at C$6.83. Approximately 1,542,339 shares changed hands during trading, an increase of 83% from the average daily volume of 841,473 shares. The stock had previously closed at C$6.89.

Wall Street Analyst Weigh In

SPB has been the topic of several research analyst reports. Desjardins lifted their price target on Superior Plus from C$9.25 to C$10.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. TD Securities downgraded Superior Plus from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from C$9.50 to C$8.50 in a research note on Thursday, July 17th. BMO Capital Markets lifted their target price on Superior Plus from C$9.00 to C$10.00 in a research note on Thursday, May 22nd. Finally, Raymond James Financial lowered their target price on Superior Plus from C$11.50 to C$10.50 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$9.95.

Superior Plus Price Performance

The company has a market capitalization of C$1.12 billion, a price-to-earnings ratio of 24.34 and a beta of 0.76. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35. The company has a 50 day simple moving average of C$7.65 and a 200 day simple moving average of C$7.04.

Superior Plus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be given a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.7%. Superior Plus's payout ratio is 264.73%.

Superior Plus Company Profile

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.

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