ValuEngine lowered shares of Tower International, Inc. (NYSE:TOWR) from a buy rating to a hold rating in a research report sent to investors on Thursday.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Tower International from a hold rating to a strong-buy rating and set a $27.00 price target on the stock in a report on Thursday, July 20th. BidaskClub raised Tower International from a sell rating to a hold rating in a report on Thursday, August 3rd. Finally, FBR & Co reissued an outperform rating and set a $40.00 price target on shares of Tower International in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $31.25.
Shares of Tower International (NYSE TOWR) traded up 0.91% on Thursday, reaching $22.25. The company had a trading volume of 59,140 shares. The firm’s 50 day moving average is $22.92 and its 200 day moving average is $24.40. Tower International has a 12 month low of $20.85 and a 12 month high of $30.50. The firm has a market capitalization of $456.59 million, a PE ratio of 6.48 and a beta of 2.65.
Tower International (NYSE:TOWR) last released its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $494.87 million. During the same quarter last year, the company posted $0.81 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. On average, equities research 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 declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 10th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Tuesday, August 8th. Tower International’s dividend payout ratio is currently 12.87%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOWR. SG Americas Securities LLC grew its holdings in shares of Tower International by 32.7% during the first quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock worth $161,000 after buying an additional 1,464 shares during the last quarter. Bowling Portfolio Management LLC purchased a new position in shares of Tower International during the second quarter worth about $225,000. Gamco Investors INC. ET AL grew its holdings in shares of Tower International by 9.1% during the first quarter. Gamco Investors INC. ET AL now owns 10,800 shares of the auto parts company’s stock worth $293,000 after buying an additional 900 shares during the last quarter. Cigna Investments Inc. New purchased a new position in shares of Tower International during the second quarter worth about $317,000. Finally, American International Group Inc. grew its holdings in shares of Tower International by 7.1% during the first quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock worth $342,000 after buying an additional 833 shares during the last quarter. 88.68% of the stock is currently 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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