Brokerages Set Superior Plus Corp. (TSE:SPB) PT at C$9.91

Shares of Superior Plus Corp. (TSE:SPB) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$9.91.

A number of brokerages have issued reports on SPB. ATB Capital decreased their price target on Superior Plus from C$13.00 to C$12.00 in a research note on Thursday, August 15th. National Bankshares decreased their target price on Superior Plus from C$10.00 to C$9.00 in a research note on Thursday, August 15th. Desjardins dropped their price target on shares of Superior Plus from C$10.50 to C$9.50 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada lowered their price objective on shares of Superior Plus from C$13.00 to C$11.00 in a research note on Thursday, August 15th. Finally, CIBC raised shares of Superior Plus from a “neutral” rating to an “outperform” rating and cut their target price for the company from C$9.50 to C$8.50 in a research note on Friday, November 8th.

Superior Plus Stock Up 1.9 %

SPB stock opened at C$6.42 on Thursday. The firm’s 50-day moving average is C$7.17 and its two-hundred day moving average is C$8.15. The company has a market capitalization of C$1.60 billion, a price-to-earnings ratio of -128.40 and a beta of 0.76. Superior Plus has a 52 week low of C$5.15 and a 52 week high of C$10.36. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 133.90.

Superior Plus Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.045 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.80%. Superior Plus’s payout ratio is currently -1,440.00%.

Insider Activity

In related news, Director Patrick Edward Gottschalk acquired 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average cost of C$6.32 per share, with a total value of C$632,150.40. Also, Director Shawn Bradley Vammen bought 5,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of C$6.35 per share, with a total value of C$31,750.00. 0.54% of the stock is currently owned by corporate insiders.

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.