Zacks Investment Research upgraded shares of Superior Industries International (NYSE:SUP) from a sell rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “Superior Industries is undertaking different strategies to reduce costs and enhance its global competitive position. The company is also investing in new manufacturing processes in order to manufacture products with better finishes. Moreover, the acquisition of UNIWHEELS will enable the company to expand its global reach, diversify customer base and expand their technological capabilities. However, its shares have underperformed the industry it belongs to in the last three months. Rising capital expenditure, 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.”
Several other equities analysts also recently commented on the company. Barrington Research started coverage on Superior Industries International in a research report on Tuesday, January 9th. They issued an outperform rating and a $27.00 target price for the company. B. Riley reiterated a buy rating and issued a $25.00 target price on shares of Superior Industries International in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $23.75.
Superior Industries International (NYSE:SUP) last posted its earnings results on Thursday, November 9th. The auto parts company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.58). The firm had revenue of $331.40 million during the quarter, compared to the consensus estimate of $316.20 million. Superior Industries International had a net margin of 0.66% and a return on equity of 7.96%. Superior Industries International’s revenue for the quarter was up 88.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. equities research analysts forecast that Superior Industries International will post 0.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Thursday, January 4th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, January 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.18%. Superior Industries International’s dividend payout ratio (DPR) is -180.00%.
In related news, Director Michael Bruynesteyn acquired 2,000 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was bought at an average cost of $16.00 per share, for a total transaction of $32,000.00. Following the completion of the transaction, the director now directly owns 7,946 shares of the company’s stock, valued at $127,136. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of Superior Industries International by 0.5% during the second 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 last quarter. Goldman Sachs Group Inc. grew its stake in Superior Industries International by 15.6% during the second quarter. Goldman Sachs Group Inc. now owns 242,172 shares of the auto parts company’s stock worth $4,976,000 after purchasing an additional 32,655 shares during the period. South Dakota Investment Council grew its stake in Superior Industries International by 33.9% during the third quarter. South Dakota Investment Council now owns 134,752 shares of the auto parts company’s stock worth $2,244,000 after purchasing an additional 34,120 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in Superior Industries International during the third quarter worth approximately $498,000. Finally, QS Investors LLC grew its stake in Superior Industries International by 15.5% during the second quarter. QS Investors LLC now owns 65,272 shares of the auto parts company’s stock worth $1,341,000 after purchasing an additional 8,736 shares during the period. Institutional investors own 84.19% 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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