BMO Capital Markets Lowers Superior Plus (TSE:SPB) Price Target to C$12.00

Market Beat
2024.07.16 18:10
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BMO Capital Markets has lowered its price target for Superior Plus (TSE:SPB) from C$12.50 to C$12.00. Several other analysts have also reduced their price targets for the company. The stock currently has a consensus rating of "Moderate Buy" and an average target price of C$12.33. Superior Plus has a 1-year low of C$8.24 and a 1-year high of C$10.90. The company reported lower-than-expected earnings per share for the quarter. Insider activity includes a senior officer acquiring shares of the company.

Superior Plus (TSE:SPB - Get Free Report) had its price objective lowered by equities researchers at BMO Capital Markets from C$12.50 to C$12.00 in a report released on Tuesday, BayStreet.CA reports. BMO Capital Markets' price objective would indicate a potential upside of 44.93% from the stock's current price.

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Several other equities analysts have also commented on the company. Royal Bank of Canada reduced their price target on Superior Plus from C$15.00 to C$13.00 and set an "outperform" rating on the stock in a research report on Friday. TD Securities dropped their price target on Superior Plus from C$13.00 to C$12.00 and set a "buy" rating on the stock in a research report on Monday. Finally, National Bankshares lowered Superior Plus from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from C$12.00 to C$10.00 in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$12.33.

View Our Latest Stock Analysis on Superior Plus

Superior Plus Stock Performance

Shares of TSE SPB traded down C$0.23 during mid-day trading on Tuesday, hitting C$8.28. 1,423,783 shares of the company were exchanged, compared to its average volume of 825,337. The company has a quick ratio of 0.46, a current ratio of 0.96 and a debt-to-equity ratio of 129.19. The stock has a 50 day simple moving average of C$9.10 and a 200-day simple moving average of C$9.42. Superior Plus has a 1-year low of C$8.24 and a 1-year high of C$10.90. The firm has a market cap of C$2.06 billion, a price-to-earnings ratio of 40.43 and a beta of 0.81.

Superior Plus (TSE:SPB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The company reported C$0.40 earnings per share for the quarter, missing analysts' consensus estimates of C$0.45 by C($0.05). The firm had revenue of C$1.21 billion during the quarter, compared to analysts' expectations of C$1.38 billion. Superior Plus had a net margin of 0.57% and a return on equity of 2.58%. On average, sell-side analysts forecast that Superior Plus will post 0.3347732 EPS for the current fiscal year.

Insider Activity at Superior Plus

In related news, Senior Officer Kirsten Olsen acquired 3,765 shares of the business's stock in a transaction that occurred on Monday, May 27th. The shares were acquired at an average cost of C$9.37 per share, with a total value of C$35,278.05. 0.49% of the stock is owned by company insiders.

Superior Plus Company Profile

(Get Free Report)

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.

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