Stifel Nicolaus Issues Pessimistic Forecast for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its price target cut by Stifel Nicolaus from C$10.00 to C$9.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 40.85% from the stock’s previous close.

A number of other research firms also recently issued reports on SPB. Desjardins downgraded shares of Superior Plus from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$8.75 to C$7.00 in a research note on Monday. Scotiabank dropped their price target on Superior Plus from C$10.00 to C$8.50 in a research note on Monday, November 17th. Royal Bank Of Canada lowered their target price on shares of Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating for the company in a research note on Monday. TD Securities dropped their target price on shares of Superior Plus from C$8.50 to C$7.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Canadian Imperial Bank of Commerce cut shares of Superior Plus from an “outperform” rating to a “hold” rating and decreased their price target for the stock from C$9.00 to C$8.00 in a report on Friday. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Superior Plus has an average rating of “Hold” and a consensus target price of C$7.80.

Superior Plus Trading Down 1.4%

TSE:SPB traded down C$0.09 during midday trading on Monday, hitting C$6.39. The stock had a trading volume of 2,011,652 shares, compared to its average volume of 956,645. The stock has a 50-day moving average of C$7.27 and a 200 day moving average of C$7.43. The company has a market capitalization of C$1.42 billion, a price-to-earnings ratio of 91.29 and a beta of 0.49. Superior Plus has a one year low of C$5.85 and a one year high of C$8.34. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35.

Superior Plus (TSE:SPB) last issued its earnings results on Thursday, February 19th. The company reported C$0.33 earnings per share for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.The business had revenue of C($3.43) million during the quarter.

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.