Tower International Inc. Hits New 52-Week High at $24.89 (TOWR)
Tower International (NASDAQ:TOWR)’s share price reached a new 52-week high during mid-day trading on Friday, AmericanBankingNews.com reports. The stock traded as high as $24.89 and last traded at $24.56, with a volume of 180,789 shares traded. The stock had previously closed at $23.66.
TOWR has been the subject of a number of recent research reports. Analysts at FBR Capital Markets initiated coverage on shares of Tower International in a research note to investors on Friday. They set an “outperform” rating and a $28.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Tower International from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $23.90 price target on the stock. Finally, analysts at Zacks upgraded shares of Tower International from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, October 21st. They now have a $23.90 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.73.
Tower International has a 52-week low of $9.03 and a 52-week high of $23.93. The stock’s 50-day moving average is $21.40 and its 200-day moving average is $21.04. The company’s market cap is $503.3 million.
Tower International (NASDAQ:TOWR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.48 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.22. The company had revenue of $495.00 million for the quarter, compared to the consensus estimate of $506.23 million. During the same quarter last year, the company posted ($0.18) earnings per share. Tower International’s revenue was up .6% compared to the same quarter last year. Analysts expect that Tower International will post $2.25 EPS for the current fiscal year.
Tower International, Inc is an integrated global manufacturer of engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers (NASDAQ:TOWR).
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