Superior Industries International (NYSE:SUP) Given New $28.00 Price Target at B. Riley

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Superior Industries International (NYSE:SUP) had its price objective cut by research analysts at B. Riley from $33.00 to $28.00 in a research note issued to investors on Thursday, October 25th, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the auto parts company’s stock. B. Riley’s target price points to a potential upside of 284.09% from the stock’s previous close. B. Riley also issued estimates for Superior Industries International’s Q2 2019 earnings at $0.12 EPS.

Several other brokerages have also recently issued reports on SUP. ValuEngine upgraded shares of Superior Industries International from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Buckingham Research raised their target price on shares of Superior Industries International from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, August 13th. Barrington Research restated a “buy” rating and issued a $27.00 target price on shares of Superior Industries International in a report on Monday, August 6th. Finally, Zacks Investment Research cut shares of Superior Industries International from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.20.

Shares of SUP stock traded down $2.45 during trading on Thursday, hitting $7.29. The company had a trading volume of 1,375,784 shares, compared to its average volume of 261,604. Superior Industries International has a 52 week low of $6.91 and a 52 week high of $22.95. The company has a current ratio of 2.33, a quick ratio of 1.31 and a debt-to-equity ratio of 1.59. The stock has a market cap of $251.44 million, a price-to-earnings ratio of 6.63 and a beta of 1.83.

Superior Industries International (NYSE:SUP) last issued its quarterly earnings results on Friday, November 9th. The auto parts company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.06. Superior Industries International had a net margin of 1.12% and a return on equity of 10.77%. The business had revenue of $347.60 million for the quarter, compared to analysts’ expectations of $346.65 million. During the same period last year, the business earned ($0.22) earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Superior Industries International will post 0.1 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Superior Industries International by 6.6% in the second quarter. BlackRock Inc. now owns 3,374,743 shares of the auto parts company’s stock worth $60,407,000 after acquiring an additional 208,506 shares during the period. OppenheimerFunds Inc. lifted its position in Superior Industries International by 27.0% during the second quarter. OppenheimerFunds Inc. now owns 43,262 shares of the auto parts company’s stock valued at $774,000 after buying an additional 9,201 shares during the period. Legal & General Group Plc lifted its position in Superior Industries International by 6.7% during the second quarter. Legal & General Group Plc now owns 46,437 shares of the auto parts company’s stock valued at $837,000 after buying an additional 2,929 shares during the period. Principal Financial Group Inc. lifted its position in Superior Industries International by 2.4% during the first quarter. Principal Financial Group Inc. now owns 177,544 shares of the auto parts company’s stock valued at $2,361,000 after buying an additional 4,212 shares during the period. Finally, Millennium Management LLC lifted its position in Superior Industries International by 22.2% during the second quarter. Millennium Management LLC now owns 373,339 shares of the auto parts company’s stock valued at $6,683,000 after buying an additional 67,943 shares during the period. 84.53% of the stock is owned by institutional investors.

About Superior Industries International

Superior Industries International, Inc designs, manufactures, and sells aluminum wheels to the original equipment manufacturers in North America. It supplies cast aluminum wheels to the automobile and light truck manufacturers. The company was founded in 1957 and is headquartered in Southfield, Michigan.

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