Tower International (TOWR) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Tower International (NYSE:TOWR) from a buy rating to a hold rating in a research note published on Saturday.

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. “

TOWR has been the topic of a number of other reports. ValuEngine upgraded Tower International from a buy rating to a strong-buy rating in a research report on Wednesday, October 18th. BidaskClub raised Tower International from a sell rating to a hold rating in a research note on Friday, September 15th. FBR & Co reaffirmed a buy rating and issued a $40.00 price target on shares of Tower International in a research note on Tuesday, October 31st. TheStreet raised Tower International from a c+ rating to a b rating in a research note on Thursday, September 28th. Finally, B. Riley reaffirmed a buy rating on shares of Tower International in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Tower International has a consensus rating of Buy and a consensus price target of $35.00.

Shares of Tower International (TOWR) opened at $30.55 on Friday. The stock has a market capitalization of $627.14, a P/E ratio of 9.31, a PEG ratio of 0.83 and a beta of 2.70. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 1.32. Tower International has a 1 year low of $21.00 and a 1 year high of $33.65.

Tower International (NYSE:TOWR) last released its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.08. The business had revenue of $462.00 million for the quarter, compared to analysts’ expectations of $451.73 million. Tower International had a return on equity of 30.51% and a net margin of 3.58%. Tower International’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. analysts predict that Tower International will post 3.7 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 10th were paid a $0.12 dividend. This is a positive change from Tower International’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.48 annualized dividend and a yield of 1.57%. Tower International’s payout ratio is currently 14.63%.

In related news, SVP William Cook sold 6,601 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $31.87, for a total value of $210,373.87. Following the sale, the senior vice president now owns 11,917 shares of the company’s stock, valued at approximately $379,794.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.20% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of TOWR. Delphi Management Inc. MA acquired a new position in Tower International in the third quarter worth $215,000. Aperio Group LLC acquired a new position in Tower International in the third quarter worth $254,000. Eqis Capital Management Inc. acquired a new position in Tower International in the third quarter worth $259,000. Gamco Investors INC. ET AL boosted its stake in Tower International by 34.0% in the third quarter. Gamco Investors INC. ET AL now owns 13,400 shares of the auto parts company’s stock worth $364,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in Tower International by 41.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 14,100 shares of the auto parts company’s stock worth $383,000 after purchasing an additional 4,100 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

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Tower International Company Profile

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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