Tower International, Inc. (TOWR) Stock Rating Upgraded by Zacks Investment Research

Tower International, Inc. (NYSE:TOWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $31.00 price target on the auto parts company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.51% from the company’s current price.

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. “

TOWR has been the subject of a number of other research reports. BidaskClub lowered Tower International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. TheStreet upgraded Tower International from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. ValuEngine lowered Tower International from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, FBR & Co reiterated an “outperform” rating and issued a $40.00 price target on shares of Tower International in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $32.25.

Tower International (NYSE:TOWR) traded up 0.36% during midday trading on Wednesday, reaching $27.90. The company had a trading volume of 33,729 shares. Tower International has a 52 week low of $20.85 and a 52 week high of $30.50. The firm has a 50-day moving average price of $25.57 and a 200-day moving average price of $24.11. The company has a market capitalization of $572.54 million, a price-to-earnings ratio of 8.12 and a beta of 2.69.

Tower International (NYSE:TOWR) last issued 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 business had revenue of $489.93 million during the quarter, compared to analyst estimates of $494.87 million. During the same quarter in the prior year, the business posted $0.81 EPS. Tower International’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts expect that Tower International will post $3.64 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in TOWR. Bank of New York Mellon Corp boosted its holdings in shares of Tower International by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 261,887 shares of the auto parts company’s stock valued at $7,098,000 after purchasing an additional 17,229 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Tower International by 32.7% during the 1st quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock valued at $161,000 after purchasing an additional 1,464 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Tower International by 7.1% during the 1st quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock valued at $342,000 after purchasing an additional 833 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Tower International by 2.6% during the 1st quarter. Teachers Advisors LLC now owns 37,704 shares of the auto parts company’s stock valued at $1,022,000 after purchasing an additional 949 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Tower International by 3.2% during the 1st quarter. California Public Employees Retirement System now owns 121,600 shares of the auto parts company’s stock valued at $3,295,000 after purchasing an additional 3,800 shares during the last quarter. 88.72% of the stock is owned by institutional investors and hedge funds.

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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