Superior Uniform Group, Inc. (SGC) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Superior Uniform Group, Inc. (NASDAQ:SGC) from a buy rating to a hold rating in a research note released on Saturday.
According to Zacks, “Superior Uniform Group manufactures and sells a wide range of uniforms, corporate I.D., career apparel and accessories for the hospital and healthcare fields; hotels; fast food and other restaurants; and public safety, industrial, transportation and commercial markets, as well as corporate and resort embroidered sportswear. (Press Release) “
A number of other brokerages have also recently commented on SGC. BidaskClub cut Superior Uniform Group from a hold rating to a sell rating in a report on Saturday, August 5th. Barrington Research increased their target price on Superior Uniform Group from $22.00 to $26.00 and gave the company an outperform rating in a report on Monday, July 31st.
Superior Uniform Group (NASDAQ:SGC) traded up 3.18% during trading on Friday, reaching $22.69. The company’s stock had a trading volume of 65,072 shares. The stock has a 50-day moving average of $22.08 and a 200 day moving average of $20.13. Superior Uniform Group has a one year low of $15.79 and a one year high of $23.33. The firm has a market capitalization of $335.18 million, a P/E ratio of 19.92 and a beta of -0.01.
Superior Uniform Group (NASDAQ:SGC) last announced its earnings results on Thursday, July 27th. The textile maker reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Superior Uniform Group had a return on equity of 14.74% and a net margin of 6.63%. The business had revenue of $65.60 million during the quarter, compared to analysts’ expectations of $66.31 million. On average, equities research analysts predict that Superior Uniform Group will post $1.17 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.095 per share. The ex-dividend date was Monday, August 14th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from Superior Uniform Group’s previous quarterly dividend of $0.09. Superior Uniform Group’s dividend payout ratio is presently 33.33%.
In other Superior Uniform Group news, insider Philip Koosed sold 17,500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $21.56, for a total transaction of $377,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.70% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of SGC. Bessemer Group Inc. acquired a new stake in shares of Superior Uniform Group in the second quarter valued at approximately $141,000. New York State Common Retirement Fund increased its holdings in shares of Superior Uniform Group by 50.0% in the second quarter. New York State Common Retirement Fund now owns 10,200 shares of the textile maker’s stock valued at $228,000 after purchasing an additional 3,399 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Superior Uniform Group by 7.0% in the second quarter. Teachers Advisors LLC now owns 14,103 shares of the textile maker’s stock valued at $315,000 after purchasing an additional 920 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Superior Uniform Group in the second quarter valued at approximately $342,000. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Superior Uniform Group by 1.5% in the second quarter. TIAA CREF Investment Management LLC now owns 21,539 shares of the textile maker’s stock valued at $481,000 after purchasing an additional 316 shares during the last quarter. 39.69% of the stock is owned by hedge funds and other institutional investors.
About Superior Uniform Group
Superior Uniform Group, Inc (Superior) manufactures and sells a range of uniforms, corporate identity apparel, career apparel and accessories for the medical and health fields, as well as for the industrial, commercial, leisure and public safety markets. Superior operates through two segments: Uniforms and Related Products, and Remote Staffing Solutions.
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