Zacks Investment Research cut shares of Superior Industries International (NYSE:SUP) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports. The brokerage currently has $3.00 price target on the auto parts company’s stock.
According to Zacks, “In second-quarter 2019, Superior Industries’ revenues missed the Zacks Consensus Estimate. Also, on a year-over-year basis, the figures declined due to lower volume, weaker euro and reduced aluminum prices partly offset by improved product mix. However, Superior Industries’ strong presence in Europe through the Uniwheels acquisition positions it well among industry peers. Beside a decent geographical presence, the company’s strategies to reduce costs enhanced its global competitive position. Further, it is investing in new manufacturing processes to serve global customer base by introducing innovative technologies. However, take rate challenges along with reduced share in North America and softening production in Europe are major concerns for the company.”
SUP has been the topic of several other research reports. Barrington Research reaffirmed an outperform rating and set a $7.00 price objective (down previously from $15.00) on shares of Superior Industries International in a research note on Monday. ValuEngine raised Superior Industries International from a sell rating to a hold rating in a research note on Thursday, August 1st. B. Riley set a $9.00 price objective on Superior Industries International and gave the stock a buy rating in a research note on Friday, August 9th. Finally, TheStreet downgraded Superior Industries International from a c- rating to a d+ rating in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $7.40.
SUP stock opened at $2.73 on Tuesday. The company has a fifty day moving average of $2.95. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.15 and a current ratio of 1.90. The firm has a market cap of $69.10 million, a P/E ratio of -54.60 and a beta of 1.96. Superior Industries International has a twelve month low of $2.35 and a twelve month high of $22.95.
Superior Industries International (NYSE:SUP) last issued its quarterly earnings data on Thursday, August 8th. The auto parts company reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The business had revenue of $325.50 million for the quarter, compared to the consensus estimate of $361.86 million. Superior Industries International had a negative return on equity of 0.26% and a net margin of 1.15%. The firm’s revenue was down 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Analysts predict that Superior Industries International will post -0.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 13.19%. The ex-dividend date was Wednesday, July 3rd. Superior Industries International’s payout ratio is presently -720.00%.
In other Superior Industries International news, Director Richard J. Giromini acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $4.37 per share, with a total value of $87,400.00. Following the purchase, the director now owns 42,500 shares of the company’s stock, valued at approximately $185,725. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its stake in shares of Superior Industries International by 20.3% in the 1st quarter. Bank of Montreal Can now owns 11,858 shares of the auto parts company’s stock valued at $56,000 after purchasing an additional 2,004 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Superior Industries International by 135.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,291 shares of the auto parts company’s stock valued at $25,000 after purchasing an additional 3,040 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Superior Industries International in the 4th quarter valued at about $32,000. Teton Advisors Inc. raised its stake in shares of Superior Industries International by 1.7% in the 1st quarter. Teton Advisors Inc. now owns 449,067 shares of the auto parts company’s stock valued at $2,138,000 after purchasing an additional 7,300 shares during the period. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Superior Industries International in the 2nd quarter valued at about $35,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.
About Superior Industries International
Superior Industries International, Inc designs, manufactures, and sells aluminum wheels to the original equipment manufacturers in North America and Europe. It supplies cast aluminum wheels to the automobile and light truck manufacturers. The company offers its products under the ATS, RIAL, ALUTEC, and ANZIO brand names.
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