After Today’s Gap Up, Is Superior Plus Corp.’s Near-Term Analysis Positive

 After Today's Gap Up, Is Superior Plus Corp.'s Near Term Analysis Positive

The stock of Superior Plus Corp. (TSE:SPB) gapped up by $0.06 today and has $18.45 target or 54.00% above today’s $11.98 share price. The 5 months technical chart setup indicates low risk for the $1.77B company. The gap was reported on Oct, 31 by Barchart.com. If the $18.45 price target is reached, the company will be worth $955.80M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 461,188 shares traded hands or 51.77% up from the average. Superior Plus Corp. (TSE:SPB) has risen 28.34% since March 24, 2016 and is uptrending. It has outperformed by 24.86% the S&P500.

Superior Plus Corp. (TSE:SPB) Ratings Coverage

Out of 7 analysts covering Superior Plus Corp. (TSE:SPB), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Superior Plus Corp. has been the topic of 25 analyst reports since July 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets initiated the shares of SPB in a report on Thursday, August 20 with “Outperform” rating. IBC reinitiated Superior Plus Corp. (TSE:SPB) on Wednesday, July 6 with “Sector Perform” rating. On Thursday, September 1 the stock rating was maintained by Scotia Capital with “Sector Perform”. As per Friday, July 24, the company rating was maintained by Scotia Capital. Cormark Securities upgraded the shares of SPB in a report on Monday, May 2 to “Buy” rating. The stock of Superior Plus Corp. (TSE:SPB) earned “Outperform” rating by Raymond James on Friday, July 24. The firm has “Sector Perform” rating by Scotia Capital given on Wednesday, September 21. The rating was maintained by TD Securities on Friday, August 12 with “Action List Buy”. The firm earned “Outperform” rating on Friday, October 28 by RBC Capital Markets. TD Securities maintained Superior Plus Corp. (TSE:SPB) rating on Friday, July 24. TD Securities has “Action List Buy” rating and $16.50 price target.

More notable recent Superior Plus Corp. (TSE:SPB) news were published by: Marketwatch.com which released: “Superior Plus Corp. Announces 2015 Annual and Fourth Quarter Results” on February 18, 2016, also Reuters.com with their article: “BRIEF-Superior Plus Corp announces 2016 third quarter results” published on October 27, 2016, Marketwired.com published: “Superior Plus Corp. Announces 2016 Second Quarter Results” on August 09, 2016. More interesting news about Superior Plus Corp. (TSE:SPB) were released by: Marketwired.com and their article: “Superior Plus Corp. Announces 2016 First Quarter Results” published on April 28, 2016 as well as Fool.ca‘s news article titled: “3 Reasons to Own Superior Plus Corp. Now” with publication date: August 03, 2016.

Superior Plus Corp. is a Canada diversified business company. The company has a market cap of $1.77 billion. The Firm operates through three divisions: Energy Services, Specialty Chemicals and Construction Products Distribution. It has a 10.36 P/E ratio. Superior’s Energy Services segment provides distribution, wholesale procurement and related services in relation to propane, heating oil and other refined fuels under Canadian propane division and U.S. refined fuels division.

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