Tower International, Inc. (NYSE:TOWR) has been assigned an average rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $33.25.
Several research firms have commented on TOWR. BidaskClub cut shares of Tower International from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research cut shares of Tower International from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 21st. ValuEngine upgraded shares of Tower International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, FBR & Co reiterated an “outperform” rating and issued a $40.00 price objective on shares of Tower International in a report on Monday, June 12th.
Tower International (TOWR) opened at 25.20 on Friday. Tower International has a 12-month low of $20.85 and a 12-month high of $30.50. The company has a 50-day moving average price of $22.56 and a 200-day moving average price of $25.17. The firm has a market cap of $516.32 million, a PE ratio of 11.17 and a beta of 2.57.
Tower International (NYSE:TOWR) last posted its earnings results on Wednesday, July 26th. The auto parts company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. Tower International had a net margin of 2.47% and a return on equity of 33.60%. The firm had revenue of $489.93 million during the quarter, compared to analysts’ expectations of $494.87 million. During the same quarter in the prior year, the firm earned $0.81 EPS. Tower International’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts predict that Tower International will post $3.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Tuesday, August 8th. Tower International’s payout ratio is 12.87%.
Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Tower International during the fourth quarter valued at approximately $2,470,000. Bogle Investment Management L P DE purchased a new stake in shares of Tower International during the first quarter valued at approximately $2,662,000. Alambic Investment Management L.P. increased its stake in Tower International by 10.2% in the first quarter. Alambic Investment Management L.P. now owns 34,500 shares of the auto parts company’s stock worth $935,000 after buying an additional 3,200 shares during the last quarter. LSV Asset Management increased its stake 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 during the last quarter. Finally, James Investment Research Inc. increased its stake in Tower International by 80.0% in the first quarter. James Investment Research Inc. now owns 107,260 shares of the auto parts company’s stock worth $2,907,000 after buying an additional 47,670 shares during the last quarter. Hedge funds and other institutional investors own 89.18% 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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