Raymond James Trims Superior Plus (TSE:SPB) Target Price to C$14.50

Superior Plus (TSE:SPB) had its price target decreased by equities research analysts at Raymond James from C$15.00 to C$14.50 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price objective points to a potential upside of 12.23% from the stock’s previous close.

SPB has been the topic of a number of other research reports. Cormark lowered their target price on Superior Plus from C$16.00 to C$15.00 in a research note on Tuesday, February 12th. AltaCorp Capital reaffirmed an “outperform” rating on shares of Superior Plus in a report on Wednesday, February 13th. Canaccord Genuity reduced their target price on Superior Plus from C$13.75 to C$13.50 in a report on Tuesday, February 19th. National Bank Financial increased their price target on Superior Plus from C$14.00 to C$14.50 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Desjardins raised their target price on Superior Plus from C$14.00 to C$14.50 in a research report on Friday, May 10th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of C$14.70.

TSE:SPB traded down C$0.08 on Wednesday, hitting C$12.92. The company’s stock had a trading volume of 337,198 shares, compared to its average volume of 567,403. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 163.24. The firm has a market capitalization of $2.27 billion and a price-to-earnings ratio of 27.03. Superior Plus has a one year low of C$9.17 and a one year high of C$13.56.

Superior Plus (TSE:SPB) last announced its earnings results on Thursday, May 9th. The company reported C$0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.61 by C$0.30. The firm had revenue of C$1.02 billion for the quarter, compared to the consensus estimate of C$1.03 billion. Equities research analysts expect that Superior Plus will post 0.93 EPS for the current year.

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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