BMO Capital Markets Lowers Superior Plus (TSE:SPB) Price Target to C$8.00

Superior Plus (TSE:SPB) had its target price decreased by research analysts at BMO Capital Markets from C$10.00 to C$8.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 17.82% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Raymond James Financial decreased their target price on shares of Superior Plus from C$11.50 to C$10.50 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. TD Securities downgraded shares of Superior Plus from a “strong-buy” rating to a “hold” rating and reduced their price target for the stock from C$9.50 to C$8.50 in a research report on Thursday, July 17th. Finally, Desjardins increased their price objective on shares of Superior Plus from C$9.25 to C$10.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Superior Plus presently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.63.

Superior Plus Price Performance

Shares of SPB stock opened at C$6.79 on Wednesday. The company has a market capitalization of C$1.14 billion, a PE ratio of 24.97 and a beta of 0.76. The firm has a fifty day simple moving average of C$7.61 and a 200-day simple moving average of C$7.04. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35. Superior Plus has a twelve month low of C$5.15 and a twelve month high of C$8.34.

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.