TheStreet Upgrades Tower International, Inc. (TOWR) to B
Several other equities analysts have also issued reports on the company. BidaskClub raised Tower International from a hold rating to a buy rating in a research note on Thursday. Zacks Investment Research raised Tower International from a hold rating to a buy rating and set a $28.00 price objective for the company in a report on Tuesday, September 26th. ValuEngine raised Tower International from a hold rating to a buy rating in a report on Friday, September 22nd. Finally, FBR & Co reaffirmed an outperform rating and issued a $40.00 target price on shares of Tower International in a research note on Monday, June 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $31.50.
Shares of Tower International (NYSE:TOWR) traded up 2.21% on Thursday, reaching $27.80. The company had a trading volume of 110,924 shares. The company has a 50-day moving average price of $22.86 and a 200-day moving average price of $24.11. The firm has a market cap of $570.48 million, a P/E ratio of 8.09 and a beta of 2.69. Tower International has a one year low of $20.85 and a one year high of $30.50.
Tower International (NYSE:TOWR) last posted its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. Tower International had a return on equity of 33.20% and a net margin of 3.76%. The firm had revenue of $489.93 million for the quarter, compared to the consensus estimate of $494.87 million. During the same quarter in the prior year, the business earned $0.81 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts expect that Tower International will post $3.63 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 10th were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.44 dividend on an annualized basis and a yield of 1.62%. Tower International’s dividend payout ratio is presently 12.87%.
Several institutional investors have recently bought and sold shares of the company. Bogle Investment Management L P DE bought a new stake in shares of Tower International in the 1st quarter valued at about $2,662,000. SG Americas Securities LLC boosted its stake in Tower International by 32.7% during the 1st quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock worth $161,000 after acquiring an additional 1,464 shares during the last quarter. Capital Fund Management S.A. bought a new position in Tower International during the 2nd quarter worth approximately $404,000. First Quadrant L P CA bought a new position in Tower International during the 2nd quarter worth approximately $951,000. Finally, Thrivent Financial For Lutherans boosted its stake in Tower International by 74.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 521,942 shares of the auto parts company’s stock worth $11,718,000 after acquiring an additional 222,485 shares during the last quarter. Institutional investors own 88.68% 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’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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