Superior Industries International, Inc. (NYSE:SUP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “In order to bolster its strategic position, Superior Industries is investing in new manufacturing processes with finer finishes which have higher value. The strategy is in sync with market trends and the requirements of the customers. Also the acquisition of UNIWHEELS’ outstanding common stocks is likely to benefit Superior Industries to expand its global reach, diversify customer base and expand their technological capabilities. Also, Superior Industries has provided a positive outlook for the fiscal 2017, along with unit volume growth. However, rising capital expenditure, foreign currency headwinds, operating inefficiencies and changing energy prices are few of its concerns. Its shares have also underperformed the industry it belongs to in the last three months.”
A number of other equities research analysts have also recently commented on the company. FBR & Co reissued an “outperform” rating and issued a $31.00 target price on shares of Superior Industries International in a research note on Tuesday, July 18th. BidaskClub cut Superior Industries International from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Buckingham Research cut their target price on Superior Industries International from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.67.
Superior Industries International (NYSE:SUP) opened at 17.25 on Monday. The firm’s 50-day moving average price is $15.68 and its 200 day moving average price is $19.05. Superior Industries International has a 52 week low of $14.00 and a 52 week high of $29.33. The company has a market capitalization of $429.59 million, a PE ratio of 64.85 and a beta of 0.74.
Superior Industries International (NYSE:SUP) last released its earnings results on Friday, August 4th. The auto parts company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). Superior Industries International had a return on equity of 9.54% and a net margin of 1.23%. The company had revenue of $240.60 million during the quarter, compared to analysts’ expectations of $190.98 million. During the same period in the prior year, the company posted $0.52 earnings per share. The company’s revenue was up 31.7% on a year-over-year basis. Equities research analysts expect that Superior Industries International will post $1.45 earnings per share for the current fiscal year.
In related news, SVP Shawn Pallagi bought 10,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average cost of $14.64 per share, with a total value of $146,400.00. Following the completion of the purchase, the senior vice president now owns 10,952 shares in the company, valued at approximately $160,337.28. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Strauss Mcelya bought 13,084 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was bought at an average cost of $14.19 per share, for a total transaction of $185,661.96. Following the completion of the purchase, the director now owns 27,376 shares of the company’s stock, valued at approximately $388,465.44. The disclosure for this purchase can be found here. Over the last three months, insiders bought 76,596 shares of company stock worth $1,161,839. Insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SUP. Vanguard Group Inc. boosted its position in shares of Superior Industries International by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,199,855 shares of the auto parts company’s stock valued at $55,767,000 after buying an additional 75,867 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Superior Industries International by 1.0% during the second quarter. Gamco Investors INC. ET AL now owns 1,171,675 shares of the auto parts company’s stock valued at $24,078,000 after buying an additional 11,400 shares during the last quarter. Northern Trust Corp boosted its position in shares of Superior Industries International by 18.5% during the second quarter. Northern Trust Corp now owns 1,110,114 shares of the auto parts company’s stock valued at $22,813,000 after buying an additional 173,039 shares during the last quarter. Prudential PLC boosted its position in shares of Superior Industries International by 9.2% during the second quarter. Prudential PLC now owns 996,600 shares of the auto parts company’s stock valued at $20,480,000 after buying an additional 83,600 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Superior Industries International by 2.2% during the second quarter. State Street Corp now owns 681,169 shares of the auto parts company’s stock valued at $13,990,000 after buying an additional 14,722 shares during the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.
Superior Industries International Company Profile
Superior Industries International, Inc is engaged in the design and manufacture of aluminum wheels for sale to original equipment manufacturers (OEMs). The Company supplies cast aluminum wheels to automobile and light truck manufacturers, with wheel manufacturing operations in the United States and Mexico.
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