ValuEngine upgraded shares of Tower International, Inc. (NYSE:TOWR) from a buy rating to a strong-buy rating in a research note released on Wednesday, October 18th.
A number of other equities research analysts also recently issued reports on the stock. FBR & Co reaffirmed an outperform rating and issued a $40.00 price objective on shares of Tower International in a research report on Friday, June 30th. Zacks Investment Research raised shares of Tower International from a hold rating to a strong-buy rating and set a $27.00 price objective for the company in a research report on Thursday, July 20th. BidaskClub downgraded shares of Tower International from a hold rating to a sell rating in a research report on Friday, July 28th. Finally, TheStreet raised shares of Tower International from a c+ rating to a b rating in a research report on Thursday, September 28th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $32.25.
Shares of Tower International (NYSE:TOWR) traded down 4.36% during trading on Wednesday, hitting $27.45. The stock had a trading volume of 88,798 shares. Tower International has a 52 week low of $20.85 and a 52 week high of $30.50. The stock’s 50 day moving average is $26.03 and its 200 day moving average is $24.18. The stock has a market capitalization of $563.30 million, a price-to-earnings ratio of 7.99 and a beta of 2.69.
Tower International (NYSE:TOWR) last posted its earnings results on Wednesday, July 26th. The auto parts company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The company had revenue of $489.93 million during the quarter, compared to the consensus estimate of $494.87 million. Tower International had a net margin of 3.76% and a return on equity of 33.20%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. On average, equities research analysts expect that Tower International will post $3.63 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.75%. This is a boost from Tower International’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, November 9th. Tower International’s payout ratio is presently 12.87%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in Tower International by 32.7% in the first quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock valued at $161,000 after acquiring an additional 1,464 shares during the last quarter. Aperio Group LLC purchased a new position in Tower International in the third quarter valued at about $254,000. Eqis Capital Management Inc. purchased a new stake in shares of Tower International during the 3rd quarter valued at approximately $259,000. Bowling Portfolio Management LLC purchased a new stake in shares of Tower International during the 2nd quarter valued at approximately $225,000. Finally, American International Group Inc. lifted its stake in shares of Tower International by 7.1% during the 1st quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock valued at $342,000 after buying an additional 833 shares in the last quarter. Hedge funds and other institutional investors own 88.84% of the company’s stock.
About Tower International
Tower International, Inc is a global manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers (OEMs). The Company’s product portfolio includes body-structure stampings, frame and other chassis structures, and welded assemblies for small and large cars, crossovers, pickups and sport utility vehicles (SUVs).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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