Desjardins Lowers Superior Plus (TSE:SPB) Price Target to C$9.50

Superior Plus (TSE:SPB) had its price target reduced by Desjardins from C$10.50 to C$9.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective would indicate a potential upside of 27.86% from the stock’s current price.

SPB has been the subject of a number of other reports. National Bank Financial cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 16th. BMO Capital Markets cut their price target on Superior Plus from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada cut their price objective on shares of Superior Plus from C$13.00 to C$11.00 in a research report on Thursday, August 15th. Scotiabank decreased their target price on shares of Superior Plus from C$12.00 to C$9.00 in a report on Monday, August 19th. Finally, Cibc World Mkts cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Superior Plus has a consensus rating of “Hold” and a consensus price target of C$10.27.

Superior Plus Trading Up 1.1 %

Shares of SPB traded up C$0.08 during mid-day trading on Wednesday, hitting C$7.43. 526,620 shares of the company’s stock traded hands, compared to its average volume of 874,864. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 133.90. The firm has a market capitalization of C$1.85 billion, a P/E ratio of -148.60 and a beta of 0.76. The business’s 50-day moving average price is C$7.65 and its 200-day moving average price is C$8.62. Superior Plus has a 1 year low of C$7.20 and a 1 year high of C$10.36.

Superior Plus (TSE:SPB) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). The company had revenue of C$578.62 million during the quarter, compared to the consensus estimate of C$710.53 million. Superior Plus had a positive return on equity of 1.17% and a negative net margin of 0.10%.

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.