Zacks Investment Research upgraded shares of Superior Industries International (NYSE:SUP) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $19.00 price target on the auto parts company’s stock.
According to Zacks, “In first-quarter 2018, Superior Industries’ reported adjusted earnings of 15 cents per share, beating the Zacks Consensus Estimate. During the quarter, revenues also beat estimate. For 2018, the company provided solid outlook, reflecting stable North American light truck and vehicle production and moderate production growth in Europe. Superior Industries’ acquisition of UNIWHEELS has aided it to diversify its OEM customers and expand its presence in Europe. Also, the company undertakes different strategies to reduce costs and enhance its global competitive position. It plans to reduce costs through better operational and procurement practices.”
A number of other research firms have also recently weighed in on SUP. ValuEngine raised Superior Industries International from a strong sell rating to a sell rating in a report on Wednesday, May 9th. Barrington Research reiterated a buy rating and issued a $27.00 target price on shares of Superior Industries International in a research note on Monday, March 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Superior Industries International presently has an average rating of Hold and an average price target of $22.80.
NYSE SUP opened at $16.95 on Wednesday. Superior Industries International has a fifty-two week low of $16.90 and a fifty-two week high of $17.30. The firm has a market capitalization of $425.10 million, a PE ratio of 19.32 and a beta of 1.16. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 1.43.
Superior Industries International (NYSE:SUP) last released its quarterly earnings results on Wednesday, May 9th. The auto parts company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.11. Superior Industries International had a return on equity of 10.40% and a net margin of 0.08%. The company had revenue of $386.40 million during the quarter, compared to analysts’ expectations of $350.22 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 121.8% compared to the same quarter last year. research analysts predict that Superior Industries International will post 0.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 19th. Investors of record on Thursday, April 5th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, April 4th. This represents a $0.36 annualized dividend and a yield of 2.12%. Superior Industries International’s payout ratio is currently 32.73%.
In other Superior Industries International news, SVP Shawn Pallagi bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was purchased at an average cost of $13.70 per share, for a total transaction of $137,000.00. Following the completion of the purchase, the senior vice president now owns 24,201 shares of the company’s stock, valued at approximately $331,553.70. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC increased its stake in Superior Industries International by 307.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 285,000 shares of the auto parts company’s stock worth $4,232,000 after acquiring an additional 215,000 shares during the last quarter. California Public Employees Retirement System increased its stake in Superior Industries International by 39.3% during the third quarter. California Public Employees Retirement System now owns 50,567 shares of the auto parts company’s stock worth $842,000 after acquiring an additional 14,267 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Superior Industries International by 13.6% during the fourth quarter. OppenheimerFunds Inc. now owns 39,300 shares of the auto parts company’s stock worth $584,000 after acquiring an additional 4,706 shares during the last quarter. Wells Fargo & Company MN increased its stake in Superior Industries International by 35.3% during the third quarter. Wells Fargo & Company MN now owns 77,060 shares of the auto parts company’s stock worth $1,283,000 after acquiring an additional 20,103 shares during the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in Superior Industries International by 16.6% during the fourth quarter. Chartwell Investment Partners LLC now owns 828,520 shares of the auto parts company’s stock worth $12,304,000 after acquiring an additional 118,225 shares during the last quarter. Hedge funds and other institutional investors own 94.63% of the company’s stock.
Superior Industries International Company Profile
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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