Superior Industries International (NYSE:SUP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
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.”
Several other research firms have also weighed in on SUP. Barrington Research began coverage on Superior Industries International in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $27.00 price objective for the company. B. Riley reissued a “buy” rating and issued a $25.00 price objective on shares of Superior Industries International in a research report on Monday, November 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $23.75.
Superior Industries International (NYSE:SUP) last posted its quarterly earnings data on Thursday, November 9th. The auto parts company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $316.20 million. During the same period last year, the business posted $0.23 earnings per share. The business’s revenue was up 88.7% on a year-over-year basis. equities analysts forecast that Superior Industries International will post 0.91 earnings per share for the current year.
In other Superior Industries International news, Director Michael Bruynesteyn acquired 2,000 shares of the stock in a transaction dated 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 transaction, the director now owns 7,946 shares in the company, valued at approximately $127,136. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Winslow Evans & Crocker Inc. acquired a new stake in shares of Superior Industries International in the 3rd quarter valued at about $113,000. Mason Street Advisors LLC acquired a new stake in shares of Superior Industries International in the 2nd quarter valued at about $117,000. Kernodle & Katon Asset Management Group LLC acquired a new stake in shares of Superior Industries International in the 3rd quarter valued at about $132,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Superior Industries International by 715.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,559 shares of the auto parts company’s stock valued at $116,000 after buying an additional 4,000 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Superior Industries International in the 2nd quarter valued at about $140,000. Institutional investors own 84.23% of the company’s stock.
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About Superior Industries International
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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