ATB Capital Cuts Superior Plus (TSE:SPB) Price Target to C$13.00

Superior Plus (TSE:SPB) had its target price lowered by ATB Capital from C$14.00 to C$13.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports.

SPB has been the subject of a number of other reports. BMO Capital Markets lowered their target price on Superior Plus from C$12.50 to C$12.00 in a research note on Tuesday, July 16th. National Bank Financial lowered 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$15.00 to C$13.00 and set an outperform rating for the company in a research note on Friday, July 12th. TD Securities dropped their price target on Superior Plus from C$13.00 to C$12.00 and set a buy rating on the stock in a research note on Monday, July 15th. Finally, National Bankshares cut Superior Plus from an outperform rating to a sector perform rating and reduced their price objective for the stock from C$12.00 to C$10.00 in a research report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of C$12.20.

Superior Plus Stock Performance

Shares of SPB stock opened at C$8.04 on Wednesday. The stock has a market cap of C$2.00 billion, a PE ratio of 40.43 and a beta of 0.81. The stock has a 50-day moving average of C$8.86 and a 200-day moving average of C$9.33. The company has a debt-to-equity ratio of 129.19, a current ratio of 0.96 and a quick ratio of 0.46. Superior Plus has a one year low of C$7.79 and a one year high of C$10.90.

Superior Plus (TSE:SPB) last announced its quarterly earnings results on Tuesday, May 14th. The company reported C$0.40 earnings per share (EPS) 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 firm had revenue of C$1.21 billion during the quarter, compared to analyst estimates of C$1.38 billion. As a group, sell-side analysts expect that Superior Plus will post 0.3347732 earnings per share for the current year.

Superior Plus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a yield of 8.96%.

Insider Buying and Selling at Superior Plus

In other Superior Plus news, Senior Officer Kirsten Olsen purchased 3,765 shares of Superior Plus stock in a transaction that occurred on Monday, May 27th. The stock was acquired at an average price of C$9.37 per share, for a total transaction of C$35,278.05. Corporate insiders own 0.49% of the company’s stock.

About Superior Plus

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.