Zacks Investment Research cut shares of Superior Industries International (NYSE:SUP) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, Zacks.com reports. They currently have $3.00 price objective on the auto parts company’s stock.
According to Zacks, “In second-quarter 2019, Superior Industries’ 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, take rate challenges along with reduced share in North America and softening production in Europe are major concerns for the company.”
A number of other equities research analysts have also weighed in on the stock. B. Riley set a $9.00 target price on shares of Superior Industries International and gave the company a buy rating in a research note on Friday, August 9th. TheStreet lowered shares of Superior Industries International from a c- rating to a d+ rating in a research note on Tuesday, May 21st. Barrington Research reiterated an outperform rating and set a $7.00 target price (down from $15.00) on shares of Superior Industries International in a research note on Monday, August 12th. Finally, ValuEngine upgraded shares of Superior Industries International from a sell rating to a hold rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Superior Industries International has a consensus rating of Hold and a consensus target price of $7.40.
Shares of SUP opened at $2.32 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.15 and a debt-to-equity ratio of 1.66. The firm has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $4.40. Superior Industries International has a 1-year low of $2.31 and a 1-year high of $22.85.
Superior Industries International (NYSE:SUP) last announced its earnings results on Thursday, August 8th. The auto parts company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $325.50 million during the quarter, compared to analyst estimates of $361.86 million. Superior Industries International had a net margin of 1.15% and a negative return on equity of 0.23%. The company’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. As a group, analysts forecast that Superior Industries International will post -0.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 15.52%. The ex-dividend date of this dividend was Wednesday, July 3rd. Superior Industries International’s payout ratio is -720.00%.
In other Superior Industries International news, Director Richard J. Giromini acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average price of $4.37 per share, with a total value of $87,400.00. Following the transaction, the director now directly owns 42,500 shares in the company, valued at approximately $185,725. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ellen B. Richstone acquired 18,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $2.85 per share, with a total value of $51,300.00. Following the transaction, the director now owns 39,132 shares in the company, valued at $111,526.20. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. South Dakota Investment Council boosted its holdings in Superior Industries International by 100.9% in the 1st quarter. South Dakota Investment Council now owns 335,780 shares of the auto parts company’s stock worth $1,598,000 after buying an additional 168,616 shares during the period. KBC Group NV bought a new position in shares of Superior Industries International during the 2nd quarter valued at about $78,000. Bank of New York Mellon Corp boosted its holdings in shares of Superior Industries International by 39.0% during the 4th quarter. Bank of New York Mellon Corp now owns 530,149 shares of the auto parts company’s stock valued at $2,550,000 after purchasing an additional 148,659 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Superior Industries International by 0.6% during the 4th quarter. BlackRock Inc. now owns 3,449,602 shares of the auto parts company’s stock valued at $16,592,000 after purchasing an additional 19,164 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Superior Industries International during the 4th quarter valued at about $685,000. 79.82% of the stock is owned by hedge funds and other institutional investors.
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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