Superior Plus (TSE:SPB) Upgraded to Outperform at CIBC

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

A number of other brokerages have also issued reports on SPB. Cibc World Mkts lowered Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Stifel Nicolaus cut their target price 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. Cormark lowered their price target on Superior Plus from C$12.00 to C$10.00 in a report on Monday, July 29th. Desjardins dropped 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 note on Wednesday, October 16th. Finally, Scotiabank reduced their price objective on shares of 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$9.91.

Superior Plus Trading Up 13.8 %

Shares of TSE:SPB opened at C$6.37 on Friday. The stock has a 50 day moving average of C$7.33 and a 200 day moving average of C$8.27. The company has a market cap of C$1.58 billion, a PE ratio of -127.40 and a beta of 0.76. Superior Plus has a 12-month low of C$5.15 and a 12-month 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 (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 analysts’ consensus estimates of C($0.19) by C($0.08). The firm 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%.

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.