StockNews.com Upgrades Superior Industries International (NYSE:SUP) to “Buy”

Superior Industries International (NYSE:SUP) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Superior Industries International Trading Up 3.8 %

SUP stock opened at $2.71 on Friday. The firm has a 50 day moving average of $2.90 and a 200-day moving average of $3.25. The firm has a market capitalization of $78.28 million, a P/E ratio of -0.44 and a beta of 3.50. Superior Industries International has a 12 month low of $2.10 and a 12 month high of $4.57.

Superior Industries International (NYSE:SUP) last posted its earnings results on Thursday, August 8th. The auto parts company reported ($0.46) EPS for the quarter. The company had revenue of $319.00 million during the quarter, compared to analyst estimates of $365.15 million.

Hedge Funds Weigh In On Superior Industries International

An institutional investor recently raised its position in Superior Industries International stock. Squarepoint Ops LLC boosted its position in Superior Industries International, Inc. (NYSE:SUP) by 818.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 782,531 shares of the auto parts company’s stock after acquiring an additional 697,367 shares during the quarter. Squarepoint Ops LLC owned 2.74% of Superior Industries International worth $2,645,000 as of its most recent filing with the Securities & Exchange Commission. 56.20% of the stock is currently owned by institutional investors and hedge funds.

Superior Industries International Company Profile

Superior Industries International, Inc, together with its subsidiaries, designs, manufactures, and sells aluminum wheels to the original equipment manufacturers and aftermarket distributors in North America and Europe. It offers its products under the ATS, RIAL, ALUTEC, and ANZIO brand names. The company was founded in 1957 and is headquartered in Southfield, Michigan.