Superior Industries International, Inc. (NYSE:SUP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, October 9th.
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.”
Several other brokerages have also issued reports on SUP. BidaskClub lowered Superior Industries International from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. 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. Finally, Buckingham Research reduced their price objective on Superior Industries International from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report 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 stock. The company currently has an average rating of “Hold” and an average target price of $24.67.
Superior Industries International (SUP) opened at 16.90 on Monday. Superior Industries International has a one year low of $14.00 and a one year high of $28.82. The stock’s 50 day moving average is $16.21 and its 200 day moving average is $18.66. The firm has a market cap of $420.88 million, a P/E ratio of 63.53 and a beta of 0.74.
Superior Industries International (NYSE:SUP) last announced its quarterly earnings data on Friday, August 4th. The auto parts company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.11). Superior Industries International had a net margin of 1.23% and a return on equity of 9.54%. The company had revenue of $240.60 million during the quarter, compared to analyst estimates of $190.98 million. During the same period in the prior year, the firm earned $0.52 earnings per share. Superior Industries International’s revenue was up 31.7% on a year-over-year basis. On average, equities research analysts expect that Superior Industries International will post $1.45 earnings per share for the current year.
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In other news, SVP Shawn Pallagi acquired 10,000 shares of Superior Industries International stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average cost of $14.64 per share, with a total value of $146,400.00. Following the completion of the acquisition, the senior vice president now owns 10,952 shares in the company, valued at $160,337.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Donald J. Stebbins acquired 16,090 shares of Superior Industries International stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $15.77 per share, with a total value of $253,739.30. Following the completion of the acquisition, 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 bought a total of 76,596 shares of company stock worth $1,161,839 over the last three months. 1.50% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of SUP. First Trust Advisors LP raised its position in Superior Industries International by 42.0% during the first quarter. First Trust Advisors LP now owns 97,623 shares of the auto parts company’s stock valued at $2,475,000 after purchasing an additional 28,868 shares in the last quarter. Comerica Bank grew its stake in shares of Superior Industries International by 2.3% during the first quarter. Comerica Bank now owns 24,906 shares of the auto parts company’s stock valued at $555,000 after buying an additional 556 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Superior Industries International during the first quarter valued at about $296,000. Parametric Portfolio Associates LLC grew its stake in shares of Superior Industries International by 12.7% during the first quarter. Parametric Portfolio Associates LLC now owns 103,495 shares of the auto parts company’s stock valued at $2,624,000 after buying an additional 11,673 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its stake in shares of Superior Industries International by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 21,832 shares of the auto parts company’s stock valued at $553,000 after buying an additional 3,295 shares during the last quarter. Institutional investors own 82.18% of the company’s stock.
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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