Superior Industries International (SUP) Upgraded to “Buy” at Zacks Investment Research

Superior Industries International (NYSE:SUP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $19.00 target price on the auto parts company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.14% from the stock’s previous close.

According to Zacks, “In first-quarter 2018, Superior Industries’ reported adjusted earnings of 15 cents per share, beating the Zacks Consensus Estimate. During the quarter, revenues also beat estimate. For 2018, the company provided solid outlook, reflecting stable North American light truck and vehicle production and moderate production growth in Europe. Superior Industries’ acquisition of UNIWHEELS has aided it to diversify its OEM customers and expand its presence in Europe. Also, the company undertakes different strategies to reduce costs and enhance its global competitive position. It plans to reduce costs through better operational and procurement practices.”

A number of other equities research analysts also recently weighed in on the stock. ValuEngine upgraded shares of Superior Industries International from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 9th. Barrington Research set a $27.00 price target on shares of Superior Industries International and gave the company a “buy” rating in a research note on Monday, May 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $22.80.

Shares of Superior Industries International opened at $17.25 on Wednesday, Marketbeat reports. The stock has a market cap of $425.10 million, a price-to-earnings ratio of 15.68 and a beta of 1.16. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.27 and a current ratio of 2.15. Superior Industries International has a 12-month low of $16.90 and a 12-month high of $17.30.

Superior Industries International (NYSE:SUP) last posted its quarterly earnings results on Wednesday, May 9th. The auto parts company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. Superior Industries International had a net margin of 0.08% and a return on equity of 10.40%. The company had revenue of $386.40 million for the quarter, compared to the consensus estimate of $350.22 million. During the same period last year, the company posted $0.31 EPS. The firm’s quarterly revenue was up 121.8% compared to the same quarter last year. analysts predict that Superior Industries International will post 0.48 EPS for the current fiscal year.

In related news, SVP Shawn Pallagi purchased 10,000 shares of Superior Industries International stock in a transaction dated Thursday, March 29th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $137,000.00. Following the purchase, the senior vice president now owns 24,201 shares in the company, valued at approximately $331,553.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System bought a new position in Superior Industries International in the 4th quarter valued at approximately $149,000. Jefferies Group LLC bought a new position in Superior Industries International in the 4th quarter valued at approximately $171,000. MetLife Investment Advisors LLC bought a new position in Superior Industries International in the 4th quarter valued at approximately $187,000. Stone Ridge Asset Management LLC bought a new position in Superior Industries International in the 4th quarter valued at approximately $237,000. Finally, Aperio Group LLC raised its holdings in Superior Industries International by 45.9% in the 4th quarter. Aperio Group LLC now owns 16,180 shares of the auto parts company’s stock valued at $240,000 after buying an additional 5,090 shares during the last quarter. Institutional investors own 94.63% of the company’s stock.

Superior Industries International Company Profile

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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