Superior Industries International (NYSE:SUP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Superior Industries adjusted earnings and revenues beat the Zacks Consensus Estimate in the fourth quarter. Compared with the year-ago figures, its revenues were higher. However, a continuous rise in its SG&A expenses, primarily due to the acquisition of UNIWHEELS and the exposure to foreign currency fluctuations, are concerning for Superior Industries. Although, the acquisition has enabled the company to expand its presence in Europe and add new customers. Over a year, its shares have underperformed the industry it belongs to.”
Separately, Barrington Research initiated coverage on Superior Industries International in a report on Tuesday, January 9th. They set an “outperform” rating and a $27.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $23.75.
Superior Industries International (NYSE SUP) opened at $15.55 on Tuesday. Superior Industries International has a 1-year low of $13.95 and a 1-year high of $27.10. The company has a current ratio of 2.14, a quick ratio of 1.25 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $394.78, a PE ratio of -15.40 and a beta of 1.03.
Superior Industries International (NYSE:SUP) last posted its earnings results on Thursday, March 15th. The auto parts company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.14. Superior Industries International had a positive return on equity of 9.79% and a negative net margin of 0.56%. The company had revenue of $361.80 million for the quarter, compared to analyst estimates of $362.13 million. During the same period last year, the company earned $0.31 earnings per share. The business’s revenue was up 92.1% compared to the same quarter last year. equities research analysts anticipate that Superior Industries International will post 0.41 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC bought a new position in Superior Industries International during the fourth quarter valued at about $187,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Superior Industries International by 61.4% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 44,700 shares of the auto parts company’s stock worth $663,000 after purchasing an additional 17,010 shares during the period. Millennium Management LLC increased its stake in shares of Superior Industries International by 106.6% in the fourth quarter. Millennium Management LLC now owns 255,815 shares of the auto parts company’s stock worth $3,799,000 after purchasing an additional 132,008 shares during the period. Stone Ridge Asset Management LLC bought a new position in shares of Superior Industries International in the fourth quarter worth about $237,000. Finally, Guggenheim Capital LLC increased its stake in shares of Superior Industries International by 279.8% in the fourth quarter. Guggenheim Capital LLC now owns 160,435 shares of the auto parts company’s stock worth $2,380,000 after purchasing an additional 118,197 shares during the period. Institutional investors own 88.52% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/03/22/zacks-investment-research-downgrades-superior-industries-international-sup-to-sell.html.
Superior Industries International Company Profile
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.
Get a free copy of the Zacks research report on Superior Industries International (SUP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Superior Industries International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Industries International and related companies with MarketBeat.com's FREE daily email newsletter.