Zacks Investment Research lowered shares of Superior Industries International (NYSE:SUP) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $3.00 price objective 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. ValuEngine upgraded Superior Industries International from a sell rating to a hold rating in a report 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 report on Friday, August 9th. Barrington Research reiterated an outperform rating and issued a $7.00 price objective (down previously from $15.00) on shares of Superior Industries International in a report on Monday, August 12th. Finally, TheStreet downgraded Superior Industries International from a c- rating to a d+ rating in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Superior Industries International currently has an average rating of Hold and a consensus target price of $7.40.
NYSE SUP opened at $2.32 on Tuesday. The stock’s 50-day simple moving average is $2.89 and its two-hundred day simple moving average is $4.40. Superior Industries International has a twelve month low of $2.31 and a twelve month high of $22.85. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.15 and a current ratio of 1.90.
Superior Industries International (NYSE:SUP) last released 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 firm 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 0.23% and a net margin of 1.15%. The company’s quarterly revenue was down 16.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. Research analysts predict that Superior Industries International will post -0.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a $0.09 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $0.36 annualized dividend and a dividend yield of 15.52%. Superior Industries International’s payout ratio is presently -720.00%.
In other Superior Industries International news, Director Ellen B. Richstone bought 18,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $2.85 per share, with a total value of $51,300.00. Following the completion of the purchase, the director now directly owns 39,132 shares of the company’s stock, valued at $111,526.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Giromini bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average cost of $4.37 per share, for a total transaction of $87,400.00. Following the completion of the purchase, the director now directly owns 42,500 shares of the company’s stock, valued at $185,725. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SUP. BNP Paribas Arbitrage SA boosted its position in Superior Industries International by 135.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,291 shares of the auto parts company’s stock valued at $25,000 after acquiring an additional 3,040 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Superior Industries International during the 4th quarter valued at approximately $32,000. SeaCrest Wealth Management LLC bought a new stake in Superior Industries International during the 2nd quarter valued at approximately $35,000. Bank of Montreal Can boosted its position in Superior Industries International by 20.3% during the 1st quarter. Bank of Montreal Can now owns 11,858 shares of the auto parts company’s stock valued at $56,000 after acquiring an additional 2,004 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in Superior Industries International during the 2nd quarter valued at approximately $46,000. 79.82% of the stock is currently owned by institutional investors.
Superior Industries International Company Profile
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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