Superior Plus (SPB) Upgraded to Outperform by CIBC

CIBC upgraded shares of Superior Plus (TSE:SPB) from a neutral rating to an outperform rating in a research note published on Thursday morning.

Other equities analysts have also recently issued research reports about the stock. Raymond James dropped their price objective on shares of Superior Plus from C$15.00 to C$14.50 in a research note on Wednesday, October 24th. TD Securities upgraded shares of Superior Plus from a buy rating to an action list buy rating and set a C$16.00 price objective for the company in a research note on Wednesday, November 28th. Finally, Royal Bank of Canada upgraded shares of Superior Plus from a sector perform rating to an outperform rating and set a C$14.00 price objective for the company in a research note on Monday, December 17th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Superior Plus has a consensus rating of Buy and an average target price of C$14.73.

Shares of SPB stock traded down C$0.01 during mid-day trading on Thursday, reaching C$10.66. The company’s stock had a trading volume of 415,605 shares, compared to its average volume of 865,089. Superior Plus has a 1-year low of C$9.17 and a 1-year high of C$13.56. The company has a debt-to-equity ratio of 154.23, a quick ratio of 0.61 and a current ratio of 0.97.

Superior Plus (TSE:SPB) last announced its quarterly earnings data on Wednesday, November 7th. The company reported C($0.23) earnings per share (EPS) for the quarter. The firm had revenue of C$481.70 million for the quarter, compared to the consensus estimate of C$629.00 million. Sell-side analysts expect that Superior Plus will post 0.8 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Friday, December 28th. Superior Plus’s payout ratio is 186.53%.

In other news, insider John Engelen bought 3,000 shares of the stock in a transaction dated Friday, November 16th. The shares were acquired at an average price of C$10.55 per share, with a total value of C$31,650.00. In the last ninety days, insiders bought 8,800 shares of company stock worth $92,044.

About Superior Plus

Superior Plus Corp. engages in the energy distribution and specialty chemicals businesses in Canada, the United States, and Chile. The company's Energy Distribution segment provides distribution, wholesale procurement, and related services for propane, heating oil, and other refined fuels. Its Specialty Chemicals segment supplies sodium chlorate and technology to the pulp and paper industries, as well as potassium and chlor-alkali products.

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Analyst Recommendations for Superior Plus (TSE:SPB)

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