Superior Plus (TSE:SPB) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins raised Superior Plus’s price target from C$8.00 to C$8.75 while maintaining a “hold” rating, implying 16.82% upside from the previous close.
• Superior Plus shares fell 8.7% to C$7.49 in Monday trading. Analysts remain broadly cautious, with an average “hold” rating and an average price target of C$8.52.
• Insiders have recently increased their holdings, including a 3,000-share purchase by director Dale Alan Winger; insiders bought 15,000 shares over the past three months.

Superior Plus (TSE:SPB - Get Free Report) had its price target lifted by investment analysts at Desjardins from C$8.00 to C$8.75 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. Desjardins' price target would suggest a potential upside of 16.82% from the stock's previous close.

SPB has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce upgraded Superior Plus from a "hold" rating to an "outperformer" rating in a report on Tuesday, April 21st. National Bank Financial boosted 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 report on Monday, June 1st. TD increased their price target on shares of Superior Plus from C$7.50 to C$8.00 and gave the stock a "hold" rating in a research note on Friday, May 15th. Scotiabank raised their price target on shares of Superior Plus from C$7.00 to C$8.50 and gave the company a "sector perform" rating in a report on Tuesday, May 19th. Finally, ATB Cormark Capital Markets lifted their price objective on shares of Superior Plus from C$8.50 to C$9.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Superior Plus currently has an average rating of "Hold" and an average price target of C$8.52.

Superior Plus Stock Down 8.7%

SPB traded down C$0.71 during trading on Monday, reaching C$7.49. 781,778 shares of the stock traded hands, compared to its average volume of 910,653. The stock's 50-day simple moving average is C$8.07 and its two-hundred day simple moving average is C$7.45. The company has a debt-to-equity ratio of 193.48, a current ratio of 0.91 and a quick ratio of 0.46. Superior Plus has a fifty-two week low of C$6.06 and a fifty-two week high of C$8.86. The stock has a market cap of C$1.61 billion, a price-to-earnings ratio of 35.67 and a beta of 0.35.

Superior Plus (TSE:SPB - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported C$0.94 earnings per share for the quarter. The company had revenue of C$1.25 billion for the quarter. Superior Plus had a negative return on equity of 0.41% and a negative net margin of 0.15%.

Insiders Place Their Bets

In related news, insider Dale Alan Winger bought 3,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was purchased at an average price of C$8.38 per share, with a total value of C$25,140.00. Following the completion of the transaction, the insider directly owned 48,000 shares of the company's stock, valued at C$402,240. This trade represents a 6.67% increase in their ownership of the stock. In the last three months, insiders purchased 15,000 shares of company stock valued at $118,360. 0.54% of the stock is currently owned by 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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