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

Zacks Investment Research upgraded shares of Superior Industries International (NYSE:SUP) from a sell rating to a hold rating in a research note published on Monday morning.

According to Zacks, “Superior Industries is undertaking different strategies to reduce costs and enhance its global competitive position. The company is also investing in new manufacturing processes in order to manufacture products with better finishes. Moreover, the acquisition of UNIWHEELS will enable the company to expand its global reach, diversify customer base and expand their technological capabilities. However, its shares have underperformed the industry it belongs to in the last three months. Rising capital expenditure, operating inefficiencies and changing energy prices are few of its concerns. Moreover, a large part of Superior Industries business is conducted in Mexico and Europe, which exposes the company to currency fluctuations.”

A number of other brokerages have also recently weighed in on SUP. Barrington Research began coverage on shares of Superior Industries International in a research note on Tuesday, January 9th. They set an outperform rating and a $27.00 price objective for the company. B. Riley reissued a buy rating and set a $25.00 price objective on shares of Superior Industries International in a research note on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned 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 price target of $23.75.

Shares of Superior Industries International (NYSE SUP) traded down $0.15 on Monday, hitting $17.25. 175,200 shares of the stock were exchanged, compared to its average volume of 178,608. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.34 and a current ratio of 2.36. Superior Industries International has a fifty-two week low of $13.95 and a fifty-two week high of $27.39. The stock has a market cap of $433.39, a PE ratio of -86.25 and a beta of 0.79.

Superior Industries International (NYSE:SUP) last issued its quarterly earnings data on Thursday, November 9th. The auto parts company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.58). Superior Industries International had a return on equity of 7.96% and a net margin of 0.66%. The business had revenue of $331.40 million for the quarter, compared to analysts’ expectations of $316.20 million. During the same period last year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 88.7% on a year-over-year basis. equities analysts expect that Superior Industries International will post 0.91 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Thursday, January 4th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $0.36 annualized dividend and a yield of 2.09%. Superior Industries International’s payout ratio is currently -180.00%.

In other news, Director Michael Bruynesteyn bought 2,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was purchased at an average cost of $16.00 per share, with a total value of $32,000.00. Following the purchase, the director now owns 7,946 shares of the company’s stock, valued at $127,136. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its stake in Superior Industries International by 17.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 293,463 shares of the auto parts company’s stock worth $4,358,000 after acquiring an additional 44,407 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Superior Industries International in the 4th quarter worth approximately $149,000. GSA Capital Partners LLP grew its stake in Superior Industries International by 35.6% in the 3rd quarter. GSA Capital Partners LLP now owns 84,192 shares of the auto parts company’s stock worth $1,402,000 after acquiring an additional 22,105 shares during the period. California Public Employees Retirement System grew its stake in Superior Industries International by 39.3% in the 3rd 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 period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Superior Industries International in the 3rd quarter worth approximately $155,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

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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.

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