Noble Financial Initiates Coverage on Superior Group of Companies (NASDAQ:SGC)

Noble Financial started coverage on shares of Superior Group of Companies (NASDAQ:SGC - Free Report) in a research note released on Thursday, MarketBeat.com reports. The firm issued an outperform rating and a $16.00 price target on the textile maker's stock.

A number of other research firms have also recently weighed in on SGC. DA Davidson cut their price objective on shares of Superior Group of Companies from $24.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Barrington Research cut their price objective on shares of Superior Group of Companies from $18.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Superior Group of Companies from a "buy" rating to a "hold" rating in a report on Saturday, April 19th.

Superior Group of Companies Stock Down 0.5%

SGC stock traded down $0.05 during midday trading on Thursday, reaching $9.81. 17,183 shares of the company were exchanged, compared to its average volume of 79,272. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.87 and a current ratio of 2.86. Superior Group of Companies has a 1-year low of $9.11 and a 1-year high of $21.80. The stock's 50-day simple moving average is $10.25 and its 200 day simple moving average is $13.44. The company has a market cap of $156.79 million, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67.

Superior Group of Companies (NASDAQ:SGC - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The textile maker reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.16). Superior Group of Companies had a return on equity of 6.75% and a net margin of 2.37%. The company had revenue of $137.10 million for the quarter, compared to analyst estimates of $139.85 million. On average, equities analysts forecast that Superior Group of Companies will post 0.77 earnings per share for the current year.

Superior Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.56 annualized dividend and a yield of 5.71%. Superior Group of Companies's dividend payout ratio is currently 124.44%.

Hedge Funds Weigh In On Superior Group of Companies

Several institutional investors have recently bought and sold shares of SGC. Bank of New York Mellon Corp increased its stake in Superior Group of Companies by 45.9% in the 4th quarter. Bank of New York Mellon Corp now owns 178,526 shares of the textile maker's stock valued at $2,951,000 after buying an additional 56,199 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Superior Group of Companies by 51.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 158,000 shares of the textile maker's stock valued at $2,612,000 after buying an additional 53,492 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Superior Group of Companies by 36.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 182,888 shares of the textile maker's stock valued at $3,023,000 after buying an additional 49,156 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Superior Group of Companies by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 932,310 shares of the textile maker's stock worth $15,411,000 after purchasing an additional 39,894 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Superior Group of Companies by 11.7% during the 4th quarter. American Century Companies Inc. now owns 363,416 shares of the textile maker's stock worth $6,007,000 after purchasing an additional 38,207 shares in the last quarter. 33.75% of the stock is owned by institutional investors and hedge funds.

About Superior Group of Companies

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Branded Products, Healthcare Apparel, and Contact Centers. The Branded Products segment produces and sells customized merchandising solutions, promotional products, and branded uniform to chain retailer, food service, entertainment, technology, transportation, and other industries under BAMKO and HPI brands.