Tower International Inc (NYSE:TOWR) has been given an average recommendation of “Hold” by the six research firms that are covering the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $31.40.
TOWR has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Tower International from a “hold” rating to a “sell” rating in a report on Thursday, January 5th. FBR & Co restated an “outperform” rating and issued a $40.00 target price on shares of Tower International in a report on Wednesday, January 25th. Finally, Citigroup Inc lowered shares of Tower International from a “buy” rating to a “neutral” rating and upped their target price for the stock from $29.00 to $30.00 in a report on Wednesday, February 15th.
In other Tower International news, COO Michael Rajkovic sold 60,000 shares of the stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $28.07, for a total value of $1,684,200.00. Following the completion of the sale, the chief operating officer now owns 15,312 shares in the company, valued at approximately $429,807.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 6.00% of the company’s stock.
A number of large investors have recently bought and sold shares of TOWR. LSV Asset Management raised its stake in Tower International by 31.0% in the third quarter. LSV Asset Management now owns 765,280 shares of the auto parts company’s stock valued at $18,443,000 after buying an additional 180,967 shares during the period. Prudential PLC raised its stake in Tower International by 18.1% in the fourth quarter. Prudential PLC now owns 554,100 shares of the auto parts company’s stock valued at $15,709,000 after buying an additional 85,100 shares during the period. Peregrine Capital Management LLC purchased a new stake in Tower International during the third quarter valued at approximately $10,793,000. State Street Corp raised its stake in Tower International by 4.8% in the fourth quarter. State Street Corp now owns 388,819 shares of the auto parts company’s stock valued at $11,024,000 after buying an additional 17,969 shares during the period. Finally, Phocas Financial Corp. purchased a new stake in Tower International during the third quarter valued at approximately $5,170,000. Hedge funds and other institutional investors own 89.13% of the company’s stock.
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Tower International (NYSE:TOWR) traded up 0.20% on Monday, hitting $25.50. The stock had a trading volume of 207,056 shares. The company has a market capitalization of $564.52 million, a PE ratio of 14.02 and a beta of 1.94. Tower International has a 12-month low of $18.75 and a 12-month high of $29.05. The company has a 50 day moving average of $26.47 and a 200 day moving average of $26.01.
Tower International (NYSE:TOWR) last posted its earnings results on Tuesday, February 14th. The auto parts company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.06. Tower International had a net margin of 8.48% and a return on equity of 148.27%. The company had revenue of $462.30 million for the quarter, compared to analyst estimates of $465.15 million. During the same quarter in the prior year, the business posted $0.67 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Tower International will post $3.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Wednesday, May 10th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.73%. Tower International’s dividend payout ratio is presently 5.66%.
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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