Zacks Investment Research upgraded shares of Superior Industries International, Inc. (NYSE:SUP) from a strong sell rating to a hold rating in a report published 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.”
A number of other research analysts also recently commented on SUP. BidaskClub downgraded Superior Industries International from a sell rating to a strong sell rating in a research note on Friday, August 18th. Buckingham Research lowered their price objective on Superior Industries International from $21.00 to $18.00 and set a neutral rating for the company in a research note on Tuesday, August 15th. Finally, FBR & Co reduced their price target on Superior Industries International from $31.00 to $25.00 and set an outperform rating for the company in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $24.67.
Shares of Superior Industries International (SUP) opened at 16.95 on Monday. Superior Industries International has a one year low of $14.00 and a one year high of $28.93. The firm has a market capitalization of $422.12 million, a P/E ratio of 63.72 and a beta of 0.74. The company’s 50 day moving average price is $15.76 and its 200 day moving average price is $19.03.
Superior Industries International (NYSE:SUP) last issued its quarterly earnings data on Friday, August 4th. The auto parts company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.11). The company had revenue of $240.60 million for the quarter, compared to the consensus estimate of $190.98 million. Superior Industries International had a return on equity of 9.54% and a net margin of 1.23%. Superior Industries International’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, analysts expect that Superior Industries International will post $1.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Thursday, October 5th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $0.36 dividend on an annualized basis and a yield of 2.12%. Superior Industries International’s dividend payout ratio (DPR) is presently 144.00%.
In other Superior Industries International news, SVP Shawn Pallagi purchased 10,000 shares of Superior Industries International stock in a transaction on Wednesday, August 23rd. The stock was bought at an average price of $14.64 per share, for a total transaction of $146,400.00. Following the transaction, the senior vice president now owns 10,952 shares of the company’s stock, valued at approximately $160,337.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack A. Hockema purchased 20,000 shares of Superior Industries International stock in a transaction on Wednesday, August 9th. The shares were acquired at an average price of $16.38 per share, with a total value of $327,600.00. Following the transaction, the director now directly owns 6,915 shares in the company, valued at approximately $113,267.70. The disclosure for this purchase can be found here. Insiders have acquired a total of 76,596 shares of company stock valued at $1,161,839 in the last quarter. 1.50% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in Superior Industries International by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,616 shares of the auto parts company’s stock worth $115,000 after acquiring an additional 69 shares during the period. M&T Bank Corp boosted its position in Superior Industries International by 0.5% during the 2nd quarter. M&T Bank Corp now owns 17,128 shares of the auto parts company’s stock worth $352,000 after acquiring an additional 77 shares during the period. Texas Permanent School Fund boosted its position in Superior Industries International by 0.7% during the 2nd quarter. Texas Permanent School Fund now owns 16,366 shares of the auto parts company’s stock worth $336,000 after acquiring an additional 116 shares during the period. Teachers Advisors LLC boosted its position in Superior Industries International by 0.5% during the 2nd quarter. Teachers Advisors LLC now owns 42,399 shares of the auto parts company’s stock worth $871,000 after acquiring an additional 211 shares during the period. Finally, Mason Street Advisors LLC boosted its position in Superior Industries International by 4.9% during the 1st quarter. Mason Street Advisors LLC now owns 5,248 shares of the auto parts company’s stock worth $133,000 after acquiring an additional 244 shares during the period. Institutional investors own 82.18% of the company’s stock.
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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