CIBC Upgrades Superior Plus (TSE:SPB) to “Outperform”

Superior Plus (TSE:SPB) was upgraded by research analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a C$8.50 price objective on the stock, down from their prior price objective of C$9.50. CIBC’s price target points to a potential upside of 33.44% from the company’s current price.

Several other equities analysts have also issued reports on SPB. Stifel Nicolaus lowered their price target on Superior Plus from C$12.50 to C$12.00 and set a “buy” rating for the company in a research report on Friday, August 16th. National Bank Financial cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 16th. Scotiabank cut their price target on shares of Superior Plus from C$12.00 to C$9.00 in a report on Monday, August 19th. Desjardins dropped their price objective on 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. Finally, Cibc World Mkts downgraded Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$9.91.

Superior Plus Price Performance

Shares of SPB opened at C$6.37 on Friday. Superior Plus has a fifty-two week low of C$5.15 and a fifty-two week high of C$10.36. The firm’s 50-day simple moving average is C$7.33 and its two-hundred day simple moving average is C$8.27. The stock has a market cap of C$1.58 billion, a PE ratio of -127.40 and a beta of 0.76. The company has a debt-to-equity ratio of 133.90, a quick ratio of 0.46 and a current ratio of 0.75.

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

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.