Superior Industries International (SUP) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “In first-quarter 2019, Superior Industries’ earnings and revenues missed the Zacks Consensus Estimate. Also, on a year-over-year basis, the figures declined due to lower volume, weaker euro and reduced aluminum prices, partly offset by improved product mix. However, Superior Industries’ strong presence in Europe through the Uniwheels acquisition positions it well among industry peers. Beside a decent geographical presence, the company’s strategies to reduce costs enhanced its global competitive position. Further, it is investing in new manufacturing processes to serve global customer base by introducing innovative technologies. However, softening demand in North America and the implementation of WLTP emission standards in Europe are major concerns for the company.”
Several other analysts have also recently weighed in on SUP. ValuEngine upgraded shares of Superior Industries International from a sell rating to a hold rating in a research note on Monday, February 4th. BWS Financial reiterated a hold rating and issued a $6.00 price objective (down previously from $10.00) on shares of Superior Industries International in a research note on Friday, February 8th. Seaport Global Securities started coverage on shares of Superior Industries International in a research note on Wednesday, February 13th. They issued a neutral rating for the company. Barrington Research set a $15.00 price objective on shares of Superior Industries International and gave the stock a buy rating in a research note on Tuesday, March 5th. Finally, TheStreet upgraded shares of Superior Industries International from a d+ rating to a c- rating in a research report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Superior Industries International presently has an average rating of Hold and a consensus target price of $11.85.
Superior Industries International (NYSE:SUP) last issued its quarterly earnings data on Thursday, May 9th. The auto parts company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.07). Superior Industries International had a return on equity of 1.21% and a net margin of 1.19%. The business had revenue of $357.70 million during the quarter, compared to analyst estimates of $363.53 million. During the same quarter last year, the firm earned $0.15 EPS. Superior Industries International’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Superior Industries International will post -0.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, April 4th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 7.61%. The ex-dividend date was Wednesday, April 3rd. Superior Industries International’s payout ratio is presently -720.00%.
In other news, Director Richard J. Giromini bought 20,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was bought at an average cost of $4.57 per share, for a total transaction of $91,400.00. Following the transaction, the director now owns 22,500 shares of the company’s stock, valued at $102,825. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of SUP. Bank of New York Mellon Corp increased its position in Superior Industries International by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 381,490 shares of the auto parts company’s stock worth $6,505,000 after purchasing an additional 11,904 shares in the last quarter. Renaissance Technologies LLC increased its position in Superior Industries International by 36.8% during the 3rd quarter. Renaissance Technologies LLC now owns 145,700 shares of the auto parts company’s stock worth $2,484,000 after purchasing an additional 39,198 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Superior Industries International by 12.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 64,154 shares of the auto parts company’s stock worth $1,094,000 after purchasing an additional 7,215 shares in the last quarter. Morgan Stanley increased its position in Superior Industries International by 29.7% during the 3rd quarter. Morgan Stanley now owns 273,644 shares of the auto parts company’s stock worth $4,666,000 after purchasing an additional 62,717 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Superior Industries International by 12.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,339,378 shares of the auto parts company’s stock worth $39,887,000 after purchasing an additional 260,064 shares in the last quarter. Institutional investors own 80.67% 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 and Europe. It supplies cast aluminum wheels to the automobile and light truck manufacturers. The company offers its products under the ATS, RIAL, ALUTEC, and ANZIO brand names.
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