Superior Plus (TSE:SPB – Get Free Report) was downgraded by stock analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued on Thursday, BayStreet.CA reports. They presently have a C$10.00 price objective on the stock, down from their prior price objective of C$14.00. CIBC’s price target would indicate a potential upside of 29.03% from the stock’s previous close.
Several other research analysts have also recently weighed in on SPB. National Bank Financial cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 16th. Royal Bank of Canada reduced their target price on shares of Superior Plus from C$13.00 to C$11.00 in a report on Thursday. Cormark reduced their target price on shares of Superior Plus from C$12.00 to C$10.00 in a report on Monday, July 29th. Desjardins reduced their target price on shares of Superior Plus from C$13.50 to C$11.50 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, ATB Capital reduced their target price on shares of Superior Plus from C$14.00 to C$13.00 in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Superior Plus presently has an average rating of “Moderate Buy” and an average price target of C$10.86.
Check Out Our Latest Stock Analysis on SPB
Superior Plus Stock Performance
Superior Plus (TSE:SPB – Get Free Report) last released its quarterly earnings data on Tuesday, May 14th. The company reported C$0.40 earnings per share for the quarter, missing the consensus estimate of C$0.45 by C($0.05). Superior Plus had a net margin of 0.57% and a return on equity of 2.58%. The company had revenue of C$1.21 billion for the quarter, compared to analysts’ expectations of C$1.38 billion. Equities analysts anticipate that Superior Plus will post 0.2619128 earnings per share for the current year.
Insiders Place Their Bets
In other news, Senior Officer Kirsten Olsen purchased 3,765 shares of the company’s stock in a transaction on Monday, May 27th. The stock was acquired at an average cost of C$9.37 per share, for a total transaction of C$35,278.05. Company insiders own 0.54% of the company’s stock.
Superior Plus Company Profile
Superior Plus Corp. distributes and markets propane, compressed natural gas and renewable energy in both the United States and Canada. The company operates through The United States Retail Propane Distribution (U.S. Propane), Canadian Retail Propane Distribution (Canadian Propane), and North American Wholesale Propane Distribution (Wholesale Propane), and Certarus segments.
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