Tower International, Inc. (TOWR) Receives Average Recommendation of “Buy” from Brokerages
Shares of Tower International, Inc. (NYSE:TOWR) have received an average rating of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $32.67.
TOWR has been the subject of a number of research analyst reports. BidaskClub lowered shares of Tower International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. Zacks Investment Research lowered shares of Tower International from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. FBR & Co reiterated an “outperform” rating and issued a $40.00 price target on shares of Tower International in a research note on Monday, June 12th. ValuEngine lowered shares of Tower International from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, TheStreet upgraded shares of Tower International from a “c+” rating to a “b” rating in a research note on Thursday, September 28th.
Several institutional investors and hedge funds have recently bought and sold shares of TOWR. Thrivent Financial For Lutherans boosted its holdings in shares of 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. Nationwide Fund Advisors boosted its holdings in shares of Tower International by 211.8% in the second quarter. Nationwide Fund Advisors now owns 118,372 shares of the auto parts company’s stock worth $2,657,000 after buying an additional 80,408 shares during the last quarter. Prudential PLC boosted its holdings in shares of 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. First Quadrant L P CA purchased a new position in shares of Tower International in the second quarter worth approximately $951,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Tower International by 16.5% in the first quarter. Geode Capital Management LLC now owns 188,995 shares of the auto parts company’s stock worth $5,121,000 after buying an additional 26,727 shares during the last quarter. 88.68% of the stock is currently owned by institutional investors.
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Tower International (NYSE:TOWR) opened at 28.00 on Friday. The stock has a market capitalization of $574.59 million, a PE ratio of 8.15 and a beta of 2.69. Tower International has a 1-year low of $20.85 and a 1-year high of $30.50. The firm has a 50-day moving average of $24.11 and a 200-day moving average of $24.03.
Tower International (NYSE:TOWR) last announced its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $0.97 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 firm had revenue of $489.93 million during the quarter, compared to analyst estimates of $494.87 million. During the same period in the previous year, the business posted $0.81 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts expect that Tower International will post $3.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were paid a $0.11 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.57%. Tower International’s dividend payout ratio is presently 12.87%.
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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