Analysts Set Superior Plus Corp. (TSE:SPB) Target Price at C$10.05

Superior Plus Corp. (TSE:SPB) has received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$9.90.

SPB has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on shares of Superior Plus from C$10.00 to C$9.00 in a report on Tuesday, October 22nd. Cibc World Mkts raised shares of Superior Plus to a “strong-buy” rating in a report on Friday, November 8th. CIBC raised shares of Superior Plus from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from C$9.50 to C$8.50 in a research note on Friday, November 8th. Scotiabank cut their target price on Superior Plus from C$12.00 to C$9.00 in a research note on Monday, November 11th. Finally, Desjardins lowered their price target on Superior Plus from C$10.50 to C$9.50 and set a “buy” rating for the company in a research report on Wednesday, October 16th.

Insider Transactions at Superior Plus

In other Superior Plus news, Director Shawn Bradley Vammen purchased 5,000 shares of Superior Plus stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average price of C$6.35 per share, with a total value of C$31,750.00. Also, Director Patrick Edward Gottschalk acquired 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of C$6.32 per share, for a total transaction of C$632,150.40. Company insiders own 0.54% of the company’s stock.

Superior Plus Trading Down 1.2 %

Shares of SPB stock opened at C$6.47 on Friday. The business has a 50-day moving average of C$6.41 and a 200 day moving average of C$7.47. The company has a debt-to-equity ratio of 133.90, a current ratio of 0.75 and a quick ratio of 0.46. Superior Plus has a 1-year low of C$5.15 and a 1-year high of C$10.36. The stock has a market capitalization of C$1.61 billion, a PE ratio of -129.40 and a beta of 0.76.

Superior Plus Cuts Dividend

The business also recently declared 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. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, December 31st. Superior Plus’s payout ratio is presently -1,440.00%.

About Superior Plus

Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline.