Zacks Investment Research Downgrades Superior Uniform Group, Inc. (SGC) to Hold
Superior Uniform Group, Inc. (NASDAQ:SGC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Superior Uniform Group manufactures and sells a wide range of uniforms, corporate I.D., career apparel and accessories for the hospital and healthcare fields; hotels; fast food and other restaurants; and public safety, industrial, transportation and commercial markets, as well as corporate and resort embroidered sportswear. (Press Release) “
Other equities research analysts also recently issued reports about the company. BidaskClub raised Superior Uniform Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Barrington Research increased their price objective on Superior Uniform Group from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, July 31st.
Shares of Superior Uniform Group (NASDAQ:SGC) opened at 22.69 on Friday. Superior Uniform Group has a 52 week low of $15.78 and a 52 week high of $23.33. The firm’s 50-day moving average is $22.08 and its 200 day moving average is $20.13. The firm has a market capitalization of $335.18 million, a PE ratio of 19.92 and a beta of -0.01.
Superior Uniform Group (NASDAQ:SGC) last posted its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. The business had revenue of $65.60 million during the quarter, compared to the consensus estimate of $66.31 million. Superior Uniform Group had a return on equity of 14.74% and a net margin of 6.63%. On average, equities analysts forecast that Superior Uniform Group will post $1.17 earnings per share for the current year.
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In other news, insider Philip Koosed sold 17,500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $21.56, for a total value of $377,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of SGC. Bessemer Group Inc. acquired a new stake in shares of Superior Uniform Group in the second quarter valued at approximately $141,000. New York State Common Retirement Fund boosted its holdings in shares of Superior Uniform Group by 50.0% in the second quarter. New York State Common Retirement Fund now owns 10,200 shares of the textile maker’s stock valued at $228,000 after acquiring an additional 3,399 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Superior Uniform Group by 7.0% in the second quarter. Teachers Advisors LLC now owns 14,103 shares of the textile maker’s stock valued at $315,000 after acquiring an additional 920 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Superior Uniform Group in the second quarter valued at approximately $342,000. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Superior Uniform Group by 1.5% in the second quarter. TIAA CREF Investment Management LLC now owns 21,539 shares of the textile maker’s stock valued at $481,000 after acquiring an additional 316 shares during the period. 39.69% of the stock is owned by institutional investors and hedge funds.
About Superior Uniform Group
Superior Uniform Group, Inc (Superior) manufactures and sells a range of uniforms, corporate identity apparel, career apparel and accessories for the medical and health fields, as well as for the industrial, commercial, leisure and public safety markets. Superior operates through two segments: Uniforms and Related Products, and Remote Staffing Solutions.
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