Tower International, Inc. (TOWR) Upgraded by BidaskClub to “Hold”
Tower International, Inc. (NYSE:TOWR) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, August 3rd.
A number of other research firms also recently issued reports on TOWR. Zacks Investment Research upgraded shares of Tower International from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, April 26th. ValuEngine downgraded shares of Tower International from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, FBR & Co reiterated an “outperform” rating and issued a $40.00 target price on shares of Tower International in a research report on Monday, June 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $31.25.
Shares of Tower International (NYSE:TOWR) traded up 0.88% during midday trading on Thursday, hitting $23.00. The stock had a trading volume of 87,594 shares. Tower International has a one year low of $20.85 and a one year high of $30.50. The firm has a 50 day moving average of $23.01 and a 200-day moving average of $24.86. The company has a market cap of $471.98 million, a P/E ratio of 6.69 and a beta of 2.59.
Tower International (NYSE:TOWR) last released its earnings results on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Tower International had a net margin of 3.76% and a return on equity of 33.20%. The company had revenue of $489.93 million during the quarter, compared to the consensus estimate of $494.87 million. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue was down 3.0% compared to the same quarter last year. On average, analysts forecast that Tower International will post $3.63 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOWR. LSV Asset Management increased its position in Tower International by 2.1% in the first quarter. LSV Asset Management now owns 1,084,295 shares of the auto parts company’s stock worth $29,384,000 after buying an additional 22,600 shares in the last quarter. Prudential PLC raised 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 worth $15,446,000 after buying an additional 52,300 shares during the last quarter. Ameriprise Financial Inc. raised its position in Tower International by 3.1% in the second quarter. Ameriprise Financial Inc. now owns 645,426 shares of the auto parts company’s stock worth $14,490,000 after buying an additional 19,634 shares during the last quarter. Thrivent Financial For Lutherans raised 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 worth $11,718,000 after buying an additional 222,485 shares during the last quarter. Finally, State Street Corp raised its position in Tower International by 4.7% in the second quarter. State Street Corp now owns 399,280 shares of the auto parts company’s stock worth $8,962,000 after buying an additional 17,814 shares during the last quarter. Institutional investors and hedge funds own 91.40% of the company’s stock.
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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