Superior Industries International, Inc. (SUP) Raised to Hold at Zacks Investment Research

Superior Industries International, Inc. (NYSE:SUP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday.

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.”

Several other research firms also recently weighed in on SUP. BidaskClub downgraded shares of Superior Industries International from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Buckingham Research dropped their target price on shares of Superior Industries International from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 15th. Finally, FBR & Co dropped their target price on shares of Superior Industries International from $31.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Superior Industries International currently has an average rating of “Hold” and an average target price of $24.67.

Shares of Superior Industries International (SUP) traded up 0.30% during mid-day trading on Monday, reaching $16.80. 44,618 shares of the company traded hands. Superior Industries International has a 52 week low of $14.00 and a 52 week high of $30.12. The stock’s 50-day moving average is $15.53 and its 200-day moving average is $19.25. The company has a market capitalization of $418.39 million, a P/E ratio of 63.16 and a beta of 0.74.

Superior Industries International (NYSE:SUP) last posted its earnings results on Friday, August 4th. The auto parts company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.11). Superior Industries International had a net margin of 1.23% and a return on equity of 9.54%. The business had revenue of $240.60 million for the quarter, compared to analysts’ expectations of $190.98 million. During the same quarter last year, the business posted $0.52 earnings per share. The business’s revenue was up 31.7% compared to the same quarter last year. On average, equities analysts predict that Superior Industries International will post $1.45 EPS for the current fiscal year.

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In other news, CEO Donald J. Stebbins purchased 16,090 shares of the stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $15.77 per share, for a total transaction of $253,739.30. Following the completion of the acquisition, the chief executive officer now directly owns 105,459 shares in the company, valued at approximately $1,663,088.43. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Shawn Pallagi purchased 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $14.64 per share, with a total value of $146,400.00. Following the completion of the acquisition, the senior vice president now owns 10,952 shares of the company’s stock, valued at $160,337.28. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 76,596 shares of company stock valued at $1,161,839. Insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Superior Industries International by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,199,855 shares of the auto parts company’s stock worth $55,767,000 after buying an additional 75,867 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Superior Industries International by 1.0% during the second quarter. Gamco Investors INC. ET AL now owns 1,171,675 shares of the auto parts company’s stock worth $24,078,000 after buying an additional 11,400 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Superior Industries International by 18.5% during the second quarter. Northern Trust Corp now owns 1,110,114 shares of the auto parts company’s stock worth $22,813,000 after buying an additional 173,039 shares in the last quarter. Prudential PLC grew its holdings in shares of Superior Industries International by 9.2% during the second quarter. Prudential PLC now owns 996,600 shares of the auto parts company’s stock worth $20,480,000 after buying an additional 83,600 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Superior Industries International by 2.2% during the second quarter. State Street Corp now owns 681,169 shares of th

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.”

Several other research firms also recently weighed in on SUP. BidaskClub downgraded shares of Superior Industries International from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Buckingham Research dropped their target price on shares of Superior Industries International from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 15th. Finally, FBR & Co dropped their target price on shares of Superior Industries International from $31.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Superior Industries International currently has an average rating of “Hold” and an average target price of $24.67.

Shares of Superior Industries International (SUP) traded up 0.30% during mid-day trading on Monday, reaching $16.80. 44,618 shares of the company traded hands. Superior Industries International has a 52 week low of $14.00 and a 52 week high of $30.12. The stock’s 50-day moving average is $15.53 and its 200-day moving average is $19.25. The company has a market capitalization of $418.39 million, a P/E ratio of 63.16 and a beta of 0.74.

Superior Industries International (NYSE:SUP) last posted its earnings results on Friday, August 4th. The auto parts company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.11). Superior Industries International had a net margin of 1.23% and a return on equity of 9.54%. The business had revenue of $240.60 million for the quarter, compared to analysts’ expectations of $190.98 million. During the same quarter last year, the business posted $0.52 earnings per share. The business’s revenue was up 31.7% compared to the same quarter last year. On average, equities analysts predict that Superior Industries International will post $1.45 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/09/superior-industries-international-inc-sup-raised-to-hold-at-zacks-investment-research.html.

In other news, CEO Donald J. Stebbins purchased 16,090 shares of the stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $15.77 per share, for a total transaction of $253,739.30. Following the completion of the acquisition, the chief executive officer now directly owns 105,459 shares in the company, valued at approximately $1,663,088.43. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Shawn Pallagi purchased 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $14.64 per share, with a total value of $146,400.00. Following the completion of the acquisition, the senior vice president now owns 10,952 shares of the company’s stock, valued at $160,337.28. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 76,596 shares of company stock valued at $1,161,839. Insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Superior Industries International by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,199,855 shares of the auto parts company’s stock worth $55,767,000 after buying an additional 75,867 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Superior Industries International by 1.0% during the second quarter. Gamco Investors INC. ET AL now owns 1,171,675 shares of the auto parts company’s stock worth $24,078,000 after buying an additional 11,400 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Superior Industries International by 18.5% during the second quarter. Northern Trust Corp now owns 1,110,114 shares of the auto parts company’s stock worth $22,813,000 after buying an additional 173,039 shares in the last quarter. Prudential PLC grew its holdings in shares of Superior Industries International by 9.2% during the second quarter. Prudential PLC now owns 996,600 shares of the auto parts company’s stock worth $20,480,000 after buying an additional 83,600 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Superior Industries International by 2.2% during the second quarter. State Street Corp now owns 681,169 shares of the auto parts company’s stock worth $13,990,000 after buying an additional 14,722 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

About Superior Industries International

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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