Tower International Inc. (TOWR) Stock Rating Lowered by Zacks Investment Research
Tower International Inc. (NYSE:TOWR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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 equities analysts have also recently issued reports on the company. Seaport Global Securities initiated coverage on Tower International in a report on Tuesday, August 9th. They issued a “buy” rating and a $35.00 target price for the company. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $28.00 target price on shares of Tower International in a report on Thursday, November 3rd. Three research 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 target price of $31.40.
Shares of Tower International (NYSE:TOWR) opened at 26.30 on Friday. The stock’s 50 day moving average price is $23.60 and its 200-day moving average price is $22.65. The firm has a market cap of $534.92 million, a price-to-earnings ratio of 3.37 and a beta of 1.90. Tower International has a 52-week low of $18.75 and a 52-week high of $31.41.
Tower International (NYSE:TOWR) last issued its earnings results on Wednesday, November 2nd. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Tower International had a return on equity of 148.27% and a net margin of 8.48%. The business earned $457 million during the quarter, compared to analysts’ expectations of $468.20 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts forecast that Tower International will post $3.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Thursday, November 10th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend 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 payout ratio is 5.66%.
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Several large investors 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 worth approximately $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 worth $247,000 after buying an additional 300 shares during the period. Alambic Investment Management L.P. acquired a new stake in shares of Tower International during the second quarter valued at approximately $311,000. Icon Advisers Inc. Co. acquired a new stake in shares of Tower International during the second quarter valued at approximately $311,000. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Tower International during the third quarter valued at approximately $441,000. Hedge funds and other institutional investors own 90.53% 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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