Zacks Reiterates “Neutral” Rating for Superior Industries International (SUP)
Superior Industries International (NYSE:SUP)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Monday. They currently have a $20.00 price objective on the stock. Zacks‘s price target suggests a potential upside of 7.07% from the stock’s previous close.
Zacks’ analyst wrote, “Superior Industries reported second-quarter 2014 earnings of $0.18 per share, missing the Zacks Consensus Estimate of $0.23. Revenues were in line with the year-ago figure of $199 million but surpassed the Zacks Consensus Estimate of $187 million. The company will benefit from the new manufacturing plant in Mexico, which is expected to start production by the end of 2014. The absence of long-term debt allows the company to invest freely in growth opportunities and undertake share repurchases. However, the company faces significant customer concentration risk and high competition in the automotive component supply industry. As a result, we are maintaining our Neutral recommendation.”
In other Superior Industries International news, major shareholder Steven J. Borick sold 62,464 shares of Superior Industries International stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $20.33, for a total value of $1,269,893.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Superior Industries International (NYSE:SUP) traded down 1.31% during mid-day trading on Monday, hitting $18.435. 52,732 shares of the company’s stock traded hands. Superior Industries International has a 52-week low of $16.89 and a 52-week high of $21.77. The stock has a 50-day moving average of $20.27 and a 200-day moving average of $19.7. The company has a market cap of $492.5 million and a P/E ratio of 23.95.
Superior Industries International (NYSE:SUP) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.23 by $0.05. The company had revenue of $199.00 million for the quarter, compared to the consensus estimate of $193.00 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that Superior Industries International will post $0.87 EPS for the current fiscal year.
Superior Industries International, Inc is engaged in the designing and manufacturing of aluminum road wheels for sale to original equipment manufacturers (NYSE:SUP).
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