Raymond James stock analysts recommended purchasing shares of Superior Plus (TSE: SPB) in a research note published on Friday. Previously, the company had been rated “market perform.” BayStreet.CA is the source from which we obtained this information. The price target the company had originally established for the stock was 13.00 Canadian dollars; however, they have since raised their price target to 13.50 Canadian dollars. Raymond James’ price projection indicates that the share price may increase by 22.17% from its most recent closing price. This would be compared to the most recent price at which it was traded.
Within the most recent brief time, various brokerages have also published reports on SPB. National Bankshares upgraded their rating on Superior Plus to “outperform” from “neutral” in a report released on Friday. Additionally, they raised their price objective on the stock from C$12.00 to C$13.00. The price target that Scotiabank has established for Superior Plus shares has been lowered from C$12.50 to C$12.00, as announced in a research report that was published on November 11. In a report made public on October 11, CIBC announced that the price objective they had set for Superior Plus had been reduced from C$13.25 to C$12.50. Despite this modification, the brokerage firm maintained its “outperform” rating for the stock. BMO Capital Markets stated in a study made available to the public on November 11 that they would now set their target price for Superior Plus at C$11.50, which was previously set at C$12.50. Lastly, but most certainly not least, in a research note published on Monday, November 14, TD Securities downgraded Superior Plus from a “buy” rating to a “hold” rating. They decreased their price target from C$15.50 to C$14.00. This was not the only change that they made to the stock. The stock has been given eight buy ratings, one hold recommendation, and one sell rating, according to the findings of various equity research analysts. The company’s stock is rated as a “Moderate Buy” on average by analysts polled by Bloomberg.com, and they anticipate the stock will reach a price of C$13.30 shortly.
On November 9, the most recent quarterly earnings report for Superior Plus (TSE: SPB) was made available to the public. In reality, the company made $0.28 in profit per share during the quarter, which is $0.28 less than the consensus estimate of $0.27, which was $0.27. In addition, the revenue for the quarter came in at 510.50 million Canadian dollars, which was lower than the analysts’ forecast of 560.67 million dollars for the quarter’s revenue. During the current fiscal year, analysts project Superior Plus will generate earnings of 0.5347162 cents per share. This figure was derived from the company’s most recent quarterly report.
The energy distribution is what the Superior Plus Corporation focuses on as an area of business. Propane Distribution in the United States and Distribution of Propane in Canada are the names of the two divisions that it operates under. Propane, heating oil, and other liquid fuels are distributed and sold by the United States Propane Distribution division in California, the Atlantic, Southeast, and Midwest of the United States, respectively. Additionally, this division is responsible for propane distribution in the Northeast.
The price of one share of Superior Plus increased to $11.05 on Friday, marking a gain of $0.87 compared to the price on the previous trading day. The total number of shares traded in the company’s stock was 1,490,131, which is significantly higher than the average volume of 545,992 shares. Over the previous year and a half, the price of a bottle of Superior Plus has fluctuated between $9.44 and $13.47 at various points. The debt-to-equity ratio is calculated to be 137.82, the quick ratio is calculated to be 0.46, and the current ratio is calculated to be 0.88. The company has a price-to-earnings ratio of 368.33, and its market value is in the vicinity of 2.23 billion Canadian dollars. Over the previous 50 and 200 trading days, the price of a share of the company’s stock has fluctuated between the ranges of $10.10 and $10.73.
You must be conscious of this reality before you give any thought to purchasing Superior Plus.
Bloomberg keeps a close eye on the research analysts on Wall Street who have the best reputations and track records, as well as the stocks that these analysts recommend daily to the clients they serve. In addition, Bloomberg monitors the stocks these analysts recommend to their respective clients and keeps a record of this information. According to Bloomberg, Superior Plus was not one of the five equities well-known analysts advise their clients to purchase right away before the rest of the market catches on. These professionals are carrying this out in a stealthy manner.
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