Tower International Inc. (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 report published on Thursday morning. Zacks Investment Research currently has $30.00 target price on the 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 analysts have also recently commented on the company. JPMorgan Chase & Co. reissued a hold rating and issued a $28.00 price target on shares of Tower International in a report on Thursday, November 3rd. Seaport Global Securities began coverage on Tower International in a report on Tuesday, August 9th. They issued a buy rating and a $35.00 price target on the stock. Finally, FBR & Co reissued a buy rating on shares of Tower International in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $31.40.
Tower International (NYSE:TOWR) opened at 26.35 on Thursday. The company has a market cap of $535.93 million, a PE ratio of 3.38 and a beta of 1.90. The stock has a 50 day moving average of $23.47 and a 200 day moving average of $22.60. Tower International has a one year low of $18.75 and a one year high of $31.41.
Tower International (NYSE:TOWR) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.10. Tower International had a return on equity of 148.27% and a net margin of 8.48%. The company had revenue of $457 million for the quarter, compared to analysts’ expectations of $468.20 million. During the same period in the previous year, the firm earned $0.54 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Tower International will post $3.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Thursday, November 10th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, November 8th. This is a positive change from Tower International’s previous quarterly dividend of $0.10. Tower International’s dividend payout ratio is presently 5.66%.
Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in Tower International during the second quarter valued at $159,000. Gamco Investors INC. ET AL raised its stake in Tower International by 2.6% in the second quarter. Gamco Investors INC. ET AL now owns 12,000 shares of the company’s stock valued at $247,000 after buying an additional 300 shares during the last quarter. Alambic Investment Management L.P. bought a new stake in Tower International during the second quarter valued at $311,000. Icon Advisers Inc. Co. bought a new stake in Tower International during the second quarter valued at $311,000. Finally, Seizert Capital Partners LLC bought a new stake in Tower International during the third quarter valued at $441,000. Institutional investors own 91.93% of the company’s stock.
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 operates in two segments: Americas and International. The International segment consists of Europe and Asia, and the Americas segment consists of North America and South America.
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