Seaport Global Initiates Coverage on Superior Industries International to Neutral

Seaport Global Initiates Coverage on Superior Industries International(NYSE:SUP). The shares have been rated Neutral. The rating by Seaport Global was issued on Aug 9, 2016.

In a different note, On Jul 13, 2016, Sidoti & Co. said it Downgrades its rating on Superior Industries International. The shares have been rated ‘Neutral’ by the firm.

Superior Industries International (SUP) shares turned negative on Wednesdays trading session with the shares closing down -0.23 points or -0.80% at a volume of 1,17,167. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $28.5. The peak price level was also seen at $28.5 while the days lowest was $27.946. Finally the shares closed at $28.35. The 52-week high of the shares is $32.12 while the 52-week low is $16.35. According to the latest information available, the market cap of the company is $721 M.

Superior Industries International(SUP) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $182.70M. Analysts had an estimated revenue of $177.19M. Earnings per share were $0.52. Analysts had estimated an EPS of $0.44.

Several Insider Transactions has been reported to the SEC. On May 5, 2016, Parveen Kakar (Senior Vice President) sold 6,396 shares at $24.87 per share price.Also, On May 4, 2016, Kerry A Shiba (EVP & CFO) sold 609 shares at $21.69 per share price.On Mar 28, 2016, Lawrence R Oliver (Sr. Vice President, Operations) purchased 50 shares at $21.97 per share price, according to the Form-4 filing with the securities and exchange commission.

Superior Industries International Inc. is a supplier of cast aluminum wheels. The principal business of the Company is the design and manufacture of aluminum road wheels for sale to original equipment manufacturers (OEMs). It operates in the segment of automotive wheels. The Company offers its products to the automobile and light truck manufacturers. It has wheel manufacturing operations in the United States and Mexico. Products made in its North American facilities are delivered primarily to automotive assembly operations in North America both for domestic and internationally branded customers. The Company’s OEM aluminum road wheels are sold for factory installation as either optional or standard equipment on many vehicle models manufactured by Ford General Motors (GM) Toyota Fiat Chrysler Automobiles N.V. (FCA) BMW Mitsubishi Nissan Subaru Volkswagen and Tesla.

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