On May 16, we issued an updated research report on Superior Industries International, Inc. SUP .
The company reported first-quarter 2018 results on May 9. The company reported adjusted earnings of 15 cents per share, beating the Zacks Consensus Estimate of 4 cents. Also, revenues were $386.4 million in the reported quarter, beating the Zacks Consensus Estimate of $356.2 million. Moreover, the top line was higher than the year-ago quarter figure.
Superior Industries anticipates net sales to be $1.45-$1.5 billion in 2018 compared with $1.1 billion in 2017. The company expects wheel shipments to be 21.25-21.6 million units in 2018. This outlook indicates solid North American light-truck and vehicle production, and moderate production growth in Europe.
Also, the acquisition of UNIWHEELS in 2017 enabled the company to expand its presence in Europe and diversify its original equipment manufacturers (OEMs), raising Superior Industries' global reach to nine among the 10 largest OEMs in the world.
The company undertakes different strategies to reduce costs and enhance its global competitive position. Superior Industries plans to reduce costs through better operational and procurement practices.
However, in the past year, Superior Industries has underperformed the industry
it belongs to. During this period, the company's share price has plunged 10.8% while the industry advanced 25.9%.
Currently, Superior Industries carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the auto space are Oshkosh Corporation OSK
, Ferrari N.V. RACE
and Gentex Corporation GNTX
. While Oshkosh and Ferrari sport a Zacks Rank #1 (Strong Buy), Gentex carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here
Oshkosh has an expected long-term growth rate of 18.3%. Shares of the company have risen 21% over the past year.
Ferrari has an expected long-term growth rate of 17.3%. Over the past year, shares of the company have gained 58.9%.
Gentex has an expected long-term growth rate of 13%. In a year's time, shares of the company have gained 27.4%. Will You Make a Fortune on the Shift to Electric Cars?
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Superior Industries International, Inc. (SUP): Free Stock Analysis Report Oshkosh Corporation (OSK): Free Stock Analysis Report Gentex Corporation (GNTX): Free Stock Analysis Report Ferrari N.V. (RACE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research