Superior Plus (TSE:SPB) Raised to “Outperform” at Scotiabank

Superior Plus (TSE:SPB) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a report released on Monday,BayStreet.CA reports. The brokerage presently has a C$9.50 price target on the stock, up from their previous price target of C$7.50. Scotiabank’s price target points to a potential upside of 49.84% from the stock’s current price.

Several other research analysts also recently weighed in on SPB. TD Securities upped their target price on Superior Plus from C$9.00 to C$9.50 and gave the stock a “buy” rating in a research note on Thursday, April 3rd. BMO Capital Markets upped their price objective on shares of Superior Plus from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, April 3rd. CIBC lifted their target price on shares of Superior Plus from C$9.00 to C$9.50 and gave the company an “outperform” rating in a research report on Thursday, April 3rd. Raymond James raised shares of Superior Plus from a “hold” rating to a “moderate buy” rating in a research note on Friday, February 28th. Finally, ATB Capital raised their price target on shares of Superior Plus from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Superior Plus currently has a consensus rating of “Moderate Buy” and an average target price of C$9.85.

Superior Plus Price Performance

Shares of Superior Plus stock opened at C$6.34 on Monday. The firm has a market cap of C$1.07 billion, a PE ratio of 23.31 and a beta of 0.76. Superior Plus has a twelve month low of C$5.15 and a twelve month high of C$9.77. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35. The business has a 50-day moving average price of C$6.38 and a 200 day moving average price of C$6.63.

About Superior Plus

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.