TD Securities Cuts Superior Plus (TSE:SPB) Price Target to C$7.50

Superior Plus (TSE:SPB) had its target price reduced by TD Securities from C$9.00 to C$7.50 in a report published on Friday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on SPB. Cormark decreased their price target on Superior Plus from C$12.00 to C$10.00 in a research note on Monday, July 29th. Cibc World Mkts downgraded shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada decreased their price objective on shares of Superior Plus from C$13.00 to C$11.00 in a research report on Thursday, August 15th. National Bankshares dropped their target price on shares of Superior Plus from C$10.00 to C$9.00 in a report on Thursday, August 15th. Finally, Scotiabank lowered their price objective on Superior Plus from C$12.00 to C$9.00 in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Superior Plus presently has an average rating of “Moderate Buy” and a consensus price target of C$9.91.

Superior Plus Stock Up 1.7 %

TSE:SPB opened at C$6.48 on Friday. Superior Plus has a one year low of C$5.15 and a one year high of C$10.36. The company has a debt-to-equity ratio of 133.90, a current ratio of 0.75 and a quick ratio of 0.46. The company has a market cap of C$1.61 billion, a PE ratio of -129.60 and a beta of 0.76. The firm’s 50 day simple moving average is C$7.31 and its 200 day simple moving average is C$8.26.

Superior Plus (TSE:SPB) last issued its quarterly earnings data 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). The business 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.18 annualized dividend and a dividend yield of 2.78%. Superior Plus’s dividend payout ratio is -1,440.00%.

Insider Buying and Selling

In other Superior Plus news, Director Patrick Edward Gottschalk acquired 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were purchased at an average price of C$6.32 per share, for a total transaction of C$632,150.40. 0.54% of the stock is owned by company insiders.

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.