Superior Plus (TSE:SPB) Stock Price Expected to Rise, CIBC Analyst Says

Superior Plus (TSE:SPB) had its price objective increased by investment analysts at CIBC from C$8.50 to C$9.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target suggests a potential upside of 43.77% from the company’s current price.

A number of other brokerages have also weighed in on SPB. TD Securities lifted their price objective on Superior Plus from C$7.50 to C$9.00 in a research report on Thursday, December 5th. Desjardins cut their price target on shares of Superior Plus from C$10.50 to C$9.50 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Cibc World Mkts upgraded shares of Superior Plus to a “strong-buy” rating in a report on Friday, November 8th. BMO Capital Markets dropped their target price on shares of Superior Plus from C$10.00 to C$9.00 in a research report on Tuesday, October 22nd. Finally, Scotiabank reduced their price target on shares of Superior Plus from C$12.00 to C$9.00 in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$9.95.

Superior Plus Stock Down 1.3 %

TSE SPB opened at C$6.26 on Thursday. 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$1.56 billion, a PE ratio of -125.20 and a beta of 0.76. 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 business’s 50-day moving average is C$6.40 and its 200 day moving average is C$7.44.

Insider Transactions at Superior Plus

In other news, Director Shawn Bradley Vammen bought 5,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was acquired at an average cost of C$6.35 per share, with a total value of C$31,750.00. Also, Director Patrick Edward Gottschalk purchased 100,000 shares of the business’s stock in a transaction dated 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. Insiders own 0.54% of the company’s stock.

Superior Plus Company Profile

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.