Superior Plus (TSE:SPB) Raised to Moderate Buy at Raymond James Financial

Key Points

• Raymond James Financial upgraded Superior Plus to a "moderate buy" rating, indicating a positive outlook for the stock.
• Other analysts have adjusted their price targets for Superior Plus, with Desjardins lowering it from C$10.50 to C$9.75, while TD Securities and BMO Capital Markets both set lower targets of C$8.00.
• The stock's current price as of Wednesday is C$6.89, reflecting a recent increase, with a market capitalization of C$1.16 billion.

Raymond James Financial upgraded shares of Superior Plus (TSE:SPB - Free Report) to a moderate buy rating in a research report released on Wednesday,Zacks.com reports.

Several other research analysts have also weighed in on SPB. BMO Capital Markets lowered their target price on shares of Superior Plus from C$10.00 to C$8.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. TD Securities lowered their target price on shares of Superior Plus from C$8.50 to C$8.00 and set a "hold" rating for the company in a research note on Wednesday, August 13th. Finally, Desjardins lowered their target price on shares of Superior Plus from C$10.50 to C$9.75 and set a "buy" rating for the company in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$9.16.

Superior Plus Trading Up 2.0%

SPB stock traded up C$0.14 during mid-day trading on Wednesday, hitting C$7.22. 1,003,977 shares of the company were exchanged, compared to its average volume of 848,756. 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 firm has a market capitalization of C$1.22 billion, a P/E ratio of 26.55 and a beta of 0.76. The business has a fifty day simple moving average of C$7.56 and a 200-day simple moving average of C$7.07. Superior Plus has a 12-month low of C$5.15 and a 12-month high of C$8.34.

Superior Plus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 2.5%. Superior Plus's payout ratio is currently 264.73%.

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.