Tower International (NYSE:TOWR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.
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. “
Several other equities analysts also recently commented on the company. Roth Capital set a $32.00 target price on Tower International and gave the company a “buy” rating in a research report on Thursday, February 14th. ValuEngine cut shares of Tower International from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Seaport Global Securities started coverage on shares of Tower International in a research note on Wednesday, February 13th. They issued a “neutral” rating for the company. Finally, TheStreet cut shares of Tower International from a “b-” rating to a “c+” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $29.00.
Shares of Tower International stock traded down $0.61 during trading on Thursday, reaching $23.81. The stock had a trading volume of 853 shares, compared to its average volume of 101,531. The firm has a market cap of $489.80 million, a price-to-earnings ratio of 6.80 and a beta of 2.05. Tower International has a 52 week low of $20.48 and a 52 week high of $36.65. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.59 and a quick ratio of 1.44.
Tower International (NYSE:TOWR) last announced its quarterly earnings results on Tuesday, February 12th. The auto parts company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.40). The business had revenue of $377.27 million for the quarter, compared to analyst estimates of $524.30 million. Tower International had a return on equity of 25.34% and a net margin of 2.42%. Tower International’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. On average, equities analysts expect that Tower International will post 2.47 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan acquired a new position in shares of Tower International in the 4th quarter valued at about $687,000. Marshall Wace LLP acquired a new stake in Tower International in the third quarter valued at $699,000. Alambic Investment Management L.P. increased its holdings in Tower International by 73.0% in the fourth quarter. Alambic Investment Management L.P. now owns 47,000 shares of the auto parts company’s stock valued at $1,119,000 after purchasing an additional 19,832 shares during the period. Bowling Portfolio Management LLC acquired a new stake in Tower International in the fourth quarter valued at $432,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Tower International by 134.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 26,980 shares of the auto parts company’s stock worth $642,000 after acquiring an additional 15,462 shares during the period. Hedge funds and other institutional investors own 93.48% of the company’s stock.
Tower International Company Profile
Tower International, Inc manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. It operates in two segments, North America and Brazil. The company provides body structures and assemblies, including structural metal components, which comprise body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes.
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