Tower International, Inc. (NYSE:TOWR) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Tower International, Inc. (NYSE:TOWR) from a hold rating to a buy rating in a research report sent to investors on Wednesday, October 18th. They currently have $31.00 target price on the auto parts company’s stock.

According to Zacks, “TA Delaware, Inc. is engaged in the manufacture of engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers. It offers its automotive customers body-structure stampings, frame and other chassis structures, as well as complex welded assemblies, for small and large cars, crossovers, pickups and SUVs. Its manufacturing operations consist primarily of stamping and welding operations, system and modular assembly operations, coating, and other ancillary operations. The Company uses various grades and thicknesses of steel and aluminum; including high-strength, hot- and cold-rolled, galvanized, organically coated, stainless, and aluminized steel; for the manufacture of its products. TA Delaware, Inc. is headquartered in Livonia, Michigan. “

A number of other research firms have also recently commented on TOWR. BidaskClub upgraded Tower International from a hold rating to a buy rating in a report on Thursday, September 28th. TheStreet upgraded shares of Tower International from a c+ rating to a b rating in a research note on Thursday, September 28th. ValuEngine upgraded shares of Tower International from a hold rating to a buy rating in a research note on Friday, September 22nd. Finally, FBR & Co restated an outperform rating and set a $40.00 price objective on shares of Tower International in a research note on Friday, June 30th. 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 company. Tower International has a consensus rating of Buy and an average price target of $32.25.

Shares of Tower International (NYSE TOWR) traded down 4.36% during trading on Wednesday, hitting $27.45. The company had a trading volume of 88,798 shares. Tower International has a 12-month low of $20.85 and a 12-month high of $30.50. The firm has a 50 day moving average of $26.35 and a 200 day moving average of $24.23. The stock has a market cap of $563.30 million, a PE ratio of 7.99 and a beta of 2.69.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from Tower International’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.75%. Tower International’s dividend payout ratio (DPR) is currently 12.87%.

A number of large investors have recently made changes to their positions in TOWR. Thrivent Financial For Lutherans boosted its position in Tower International by 74.3% in the second quarter. Thrivent Financial For Lutherans now owns 521,942 shares of the auto parts company’s stock valued at $11,718,000 after buying an additional 222,485 shares in the last quarter. Nationwide Fund Advisors boosted its position in Tower International by 211.8% in the second quarter. Nationwide Fund Advisors now owns 118,372 shares of the auto parts company’s stock valued at $2,657,000 after buying an additional 80,408 shares in the last quarter. Prudential PLC boosted its position in Tower International by 8.2% in the second quarter. Prudential PLC now owns 688,000 shares of the auto parts company’s stock valued at $15,446,000 after buying an additional 52,300 shares in the last quarter. First Quadrant L P CA acquired a new stake in Tower International in the second quarter valued at approximately $951,000. Finally, Geode Capital Management LLC boosted its position in Tower International by 16.5% in the first quarter. Geode Capital Management LLC now owns 188,995 shares of the auto parts company’s stock valued at $5,121,000 after buying an additional 26,727 shares in the last quarter. 88.84% of the stock is currently owned by institutional investors and hedge funds.

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).

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