Superior Industries International (NYSE:SUP) Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of Superior Industries International (NYSE:SUP) from a hold rating to a strong sell rating in a report issued on Tuesday, November 14th.

According to Zacks, “Superior Industries’ reported adjusted loss of 2 cents per share in third-quarter 2017. The Zacks Consensus Estimate for earnings was 36 cents. However, the revenues came in higher than expected. The company has underperformed the industry it belongs to in the last three months. Rising capital expenditure and operating inefficiencies and changing energy prices are few of its concerns. Moreover, a large part of Superior Industries business is conducted in Mexico and Europe, which exposes the company to currency fluctuations. Selling, general and administrative (SG&A) expenses for the first nine months of 2017 rose significantly year over year. This is due to the inclusion of four months of European operations due to the acquisition of UNIWHEELS.”

SUP has been the subject of a number of other research reports. B. Riley restated a buy rating and set a $25.00 price objective on shares of Superior Industries International in a research report on Monday, November 13th. FBR & Co restated 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 lowered Superior Industries International from a hold rating to a sell rating in a research report on Friday, July 28th. Finally, Buckingham Research reduced their price target on 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Superior Industries International presently has a consensus rating of Hold and a consensus price target of $22.67.

Shares of Superior Industries International (NYSE SUP) traded down $0.10 during midday trading on Tuesday, hitting $16.60. The stock had a trading volume of 174,987 shares, compared to its average volume of 163,893. Superior Industries International has a 1-year low of $13.95 and a 1-year high of $27.45. The company has a market cap of $413.46, a P/E ratio of 17.11 and a beta of 0.77. The company has a quick ratio of 1.34, a current ratio of 2.36 and a debt-to-equity ratio of 1.39.

Superior Industries International (NYSE:SUP) last released its quarterly earnings data on Thursday, November 9th. The auto parts company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.58). Superior Industries International had a net margin of 0.66% and a return on equity of 7.96%. The company had revenue of $331.40 million for the quarter, compared to analyst estimates of $316.20 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company’s revenue for the quarter was up 88.7% compared to the same quarter last year. research analysts forecast that Superior Industries International will post 0.8 EPS for the current year.

In other news, Director Michael Bruynesteyn acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average price of $16.00 per share, for a total transaction of $32,000.00. Following the completion of the acquisition, the director now directly owns 7,946 shares in the company, valued at approximately $127,136. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of 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 buying an additional 69 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Superior Industries International during the third quarter worth $155,000. BNP Paribas Arbitrage SA raised its position in shares of Superior Industries International by 51.8% during the second quarter. BNP Paribas Arbitrage SA now owns 9,070 shares of the auto parts company’s stock worth $186,000 after purchasing an additional 3,094 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Superior Industries International during the third quarter worth $186,000. Finally, Baker Ellis Asset Management LLC acquired a new stake in shares of Superior Industries International during the second quarter worth $196,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

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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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