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

Zacks Investment Research upgraded shares of Superior Industries International, Inc. (NYSE:SUP) from a sell rating to a hold rating in a research report report published on Tuesday, July 4th.

According to Zacks, “Superior Industries has lined up about 10-11 launches in the second and third quarters of the year, which are expected to benefit the company as its portfolio consists of products as per the latest market trends. It is undertaking various approaches to reduce costs and enhance its global position in the market. Also, Superior Industries has provided a positive outlook for the fiscal 2017, along with unit volume growth. Moreover, its strong balance sheet and regular share repurchases are expected to increase the shareholder value. However, rising capital expenditure, foreign currency headwinds, operating inefficiencies and changing energy prices are few of its concerns. Its shares have also underperformed the Zacks-categorized Auto/Truck-Original Equipment industry in the last three months.”

A number of other research analysts have also issued reports on SUP. B. Riley restated a buy rating and set a $31.00 price target on shares of Superior Industries International in a research note on Tuesday, April 25th. TheStreet lowered shares of Superior Industries International from a b- rating to a c+ rating in a research note on Tuesday, June 6th. Finally, ValuEngine lowered shares of Superior Industries International from a buy rating to a hold rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Superior Industries International presently has an average rating of Hold and an average price target of $31.00.

Superior Industries International (NYSE SUP) traded down 0.49% during midday trading on Tuesday, reaching $20.45. 63,247 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $19.90 and its 200-day moving average is $22.16. The stock has a market capitalization of $509.35 million, a price-to-earnings ratio of 17.30 and a beta of 0.68. Superior Industries International has a 12-month low of $18.58 and a 12-month high of $30.74.

Superior Industries International (NYSE:SUP) last issued its quarterly earnings results on Wednesday, April 26th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.06. Superior Industries International had a net margin of 4.17% and a return on equity of 10.26%. The company had revenue of $174.20 million for the quarter, compared to analyst estimates of $175.34 million. During the same quarter in the previous year, the company posted $0.56 EPS. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts forecast that Superior Industries International will post $1.83 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 19th. Stockholders of record on Wednesday, July 5th were paid a $0.09 dividend. The ex-dividend date was Friday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.76%. Superior Industries International’s payout ratio is currently 30.51%.

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Superior Industries International during the fourth quarter worth $6,228,000. Opus Capital Group LLC acquired a new stake in Superior Industries International during the first quarter worth $5,444,000. Citadel Advisors LLC acquired a new stake in Superior Industries International during the first quarter worth $2,686,000. Kennedy Capital Management Inc. raised its stake in Superior Industries International by 93.2% in the first quarter. Kennedy Capital Management Inc. now owns 214,744 shares of the auto parts company’s stock worth $5,444,000 after buying an additional 103,618 shares during the last quarter. Finally, State Street Corp raised its stake in Superior Industries International by 13.0% in the first quarter. State Street Corp now owns 666,447 shares of the auto parts company’s stock worth $16,898,000 after buying an additional 76,520 shares during the last quarter. Hedge funds and other institutional investors own 84.59% 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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