Superior Industries International, Inc. (SUP) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Superior Industries International, Inc. (NYSE:SUP) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning.
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.”
SUP has been the subject of several other research reports. FBR & Co reissued an outperform rating and set a $31.00 price objective on shares of Superior Industries International in a research report on Tuesday, July 18th. BidaskClub raised shares of Superior Industries International from a sell rating to a hold rating in a research report on Saturday, August 5th. Finally, Buckingham Research lowered their price objective on shares of Superior Industries International from $21.00 to $18.00 and set a neutral rating for the company in a research report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $24.67.
Shares of Superior Industries International (NYSE:SUP) opened at 16.90 on Monday. Superior Industries International has a 52 week low of $14.00 and a 52 week high of $28.93. The firm has a market cap of $420.88 million, a price-to-earnings ratio of 63.53 and a beta of 0.74. The firm’s 50 day moving average is $15.83 and its 200-day moving average is $19.02.
Superior Industries International (NYSE:SUP) last issued its quarterly earnings data on Friday, August 4th. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $190.98 million. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 31.7% on a year-over-year basis. Equities research analysts predict that Superior Industries International will post $1.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, October 5th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, October 4th. Superior Industries International’s dividend payout ratio is 144.00%.
In related news, SVP Shawn Pallagi acquired 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $14.64 per share, with a total value of $146,400.00. Following the completion of the transaction, the senior vice president now directly owns 10,952 shares of the company’s stock, valued at $160,337.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Donald J. Stebbins bought 16,090 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $15.77 per share, with a total value of $253,739.30. Following the transaction, the chief executive officer now owns 105,459 shares of the company’s stock, valued at approximately $1,663,088.43. The disclosure for this purchase can be found here. Insiders have bought 76,596 shares of company stock valued at $1,161,839 in the last three months. 1.50% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in SUP. PNC Financial Services Group Inc. grew its position in Superior Industries International by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 5,616 shares of the auto parts company’s stock valued at $115,000 after purchasing an additional 69 shares in the last quarter. Mason Street Advisors LLC grew its position in Superior Industries International by 4.9% in the first quarter. Mason Street Advisors LLC now owns 5,248 shares of the auto parts company’s stock valued at $133,000 after purchasing an additional 244 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Superior Industries International by 51.8% in the second quarter. BNP Paribas Arbitrage SA now owns 9,070 shares of the auto parts company’s stock valued at $186,000 after purchasing an additional 3,094 shares in the last quarter. Baker Ellis Asset Management LLC bought a new position in Superior Industries International in the second quarter valued at $196,000. Finally, KCG Holdings Inc. bought a new position in Superior Industries International in the first quarter valued at $239,000. 82.18% of the stock is owned by institutional investors and hedge funds.
About Superior Industries International
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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