Barrington Thinks Superior Industries International’s Stock is Going to Recover

In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Superior Industries International (SUPResearch Report), with a price target of $7. The company’s shares opened today at $2.79, close to its 52-week low of $2.35.

Prestopino noted:

“We believe he is exactly what Superior needs to change the trajectory for the long-term enhancement of shareholder value as there is a secular tailwind for the company given the shift to larger diameter customized wheels, yet Superior’s execution has been less than stellar within this positive secular environment.”

According to TipRanks.com, Prestopino is ranked 0 out of 5 stars with an average return of -4.3% and a 41.4% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, US Auto Parts Network, and Liquidity Services.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Superior Industries International with a $8 average price target, implying a 186.7% upside from current levels. In a report issued on August 9, B.Riley FBR also reiterated a Buy rating on the stock with a $9 price target.

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The company has a one-year high of $22.95 and a one-year low of $2.35. Currently, Superior Industries International has an average volume of 438.9K.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SUP in relation to earlier this year.

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Superior Industries International, Inc. engages in the design and manufacture of aluminum road wheels for passenger cars and light-duty vehicles. It offers its products to original equipment manufacturers for the automotive industry. The firm supplies cast aluminum wheels with wheel manufacturing operations in the United States and Mexico.