Zacks Investment Research Lowers Tower International, Inc. (TOWR) to Hold

Tower International, Inc. (NYSE:TOWR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “TA Delaware, Inc. is engaged in the manufacture of engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers. It offers its automotive customers body-structure stampings, frame and other chassis structures, as well as complex welded assemblies, for small and large cars, crossovers, pickups and SUVs. Its manufacturing operations consist primarily of stamping and welding operations, system and modular assembly operations, coating, and other ancillary operations. The Company uses various grades and thicknesses of steel and aluminum; including high-strength, hot- and cold-rolled, galvanized, organically coated, stainless, and aluminized steel; for the manufacture of its products. TA Delaware, Inc. is headquartered in Livonia, Michigan. “

Several other equities research analysts have also issued reports on TOWR. ValuEngine raised Tower International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. FBR & Co reissued an “outperform” rating and set a $40.00 price objective on shares of Tower International in a research note on Monday, June 12th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $32.00.

Shares of Tower International (NYSE TOWR) opened at 23.30 on Friday. Tower International has a 12 month low of $20.85 and a 12 month high of $30.50. The company has a market capitalization of $477.39 million, a P/E ratio of 10.33 and a beta of 2.57. The company’s 50 day moving average price is $22.56 and its 200 day moving average price is $25.33.

Tower International (NYSE:TOWR) last posted its quarterly earnings data on Tuesday, May 2nd. The auto parts company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.16. The company had revenue of $497.60 million during the quarter, compared to analyst estimates of $476.75 million. Tower International had a return on equity of 33.60% and a net margin of 2.47%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. Analysts expect that Tower International will post $3.63 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of TOWR. SG Americas Securities LLC raised its stake in shares of Tower International by 32.7% in the first quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock valued at $161,000 after buying an additional 1,464 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of Tower International by 9.1% in the first quarter. Gamco Investors INC. ET AL now owns 10,800 shares of the auto parts company’s stock valued at $293,000 after buying an additional 900 shares during the period. American International Group Inc. raised its stake in shares of Tower International by 7.1% in the first quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock valued at $342,000 after buying an additional 833 shares during the period. Tudor Investment Corp ET AL raised its stake in shares of Tower International by 105.0% in the first quarter. Tudor Investment Corp ET AL now owns 20,400 shares of the auto parts company’s stock valued at $553,000 after buying an additional 10,450 shares during the period. Finally, Alambic Investment Management L.P. raised its stake in shares of 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 valued at $935,000 after buying an additional 3,200 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

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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