Buckingham Research Upgrades Superior Industries International (SUP) to “Buy”

Superior Industries International (NYSE:SUP) was upgraded by equities researchers at Buckingham Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $12.00 price target on the auto parts company’s stock, down from their prior price target of $19.00. Buckingham Research’s target price points to a potential upside of 44.58% from the company’s previous close.

SUP has been the subject of several other research reports. Barrington Research set a $15.00 target price on Superior Industries International and gave the company a “buy” rating in a research note on Tuesday, November 6th. B. Riley decreased their target price on Superior Industries International from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, October 25th. ValuEngine raised Superior Industries International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. BWS Financial cut Superior Industries International from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a research note on Friday, November 9th. Finally, Zacks Investment Research raised Superior Industries International from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $15.20.

NYSE:SUP opened at $8.30 on Wednesday. Superior Industries International has a 1 year low of $6.91 and a 1 year high of $22.95. The firm has a market capitalization of $177.39 million, a PE ratio of 7.55 and a beta of 1.83. The company has a quick ratio of 1.31, a current ratio of 2.19 and a debt-to-equity ratio of 1.71.

Superior Industries International (NYSE:SUP) last released its quarterly earnings results on Friday, November 9th. The auto parts company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.06. Superior Industries International had a return on equity of 9.82% and a net margin of 0.88%. The company had revenue of $347.60 million during the quarter, compared to analysts’ expectations of $346.65 million. During the same quarter in the prior year, the business posted ($0.22) earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Superior Industries International will post 0.1 earnings per share for the current year.

In other news, SVP Joanne M. Finnorn bought 3,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average price of $7.50 per share, with a total value of $25,500.00. Following the completion of the purchase, the senior vice president now directly owns 34,201 shares of the company’s stock, valued at approximately $256,507.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Matti Masanovich bought 20,950 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The shares were purchased at an average cost of $7.57 per share, with a total value of $158,591.50. The disclosure for this purchase can be found here. Insiders have purchased 63,934 shares of company stock valued at $519,133 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co purchased a new stake in shares of Superior Industries International during the third quarter valued at $463,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Superior Industries International by 55.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 18,745 shares of the auto parts company’s stock valued at $320,000 after purchasing an additional 6,683 shares during the last quarter. Algert Global LLC lifted its holdings in shares of Superior Industries International by 19.2% during the third quarter. Algert Global LLC now owns 87,569 shares of the auto parts company’s stock valued at $1,493,000 after purchasing an additional 14,111 shares during the last quarter. Ibex Investors LLC purchased a new stake in shares of Superior Industries International during the third quarter valued at $194,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Superior Industries International by 36.8% during the third quarter. Renaissance Technologies LLC now owns 145,700 shares of the auto parts company’s stock valued at $2,484,000 after purchasing an additional 39,198 shares during the last quarter. 84.25% of the stock is owned by institutional investors and hedge funds.

About Superior Industries International

Superior Industries International, Inc designs, manufactures, and sells aluminum wheels to the original equipment manufacturers in North America. It supplies cast aluminum wheels to the automobile and light truck manufacturers. The company was founded in 1957 and is headquartered in Southfield, Michigan.

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