Tower International Upgraded to Outperform by Zacks (TOWR)
Tower International (NASDAQ:TOWR) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, Analyst Ratings Network reports. The firm currently has a $30.30 target price on the stock. Zacks‘s target price points to a potential upside of 6.06% from the company’s current price.
Shares of Tower International (NASDAQ:TOWR) traded down 0.26% during mid-day trading on Monday, hitting $28.495. The stock had a trading volume of 94,921 shares. Tower International has a 52-week low of $16.88 and a 52-week high of $30.28. The stock’s 50-day moving average is $27.14 and its 200-day moving average is $23.68. The company’s market cap is $586.9 million.
Tower International (NASDAQ:TOWR) last announced its earnings results on Wednesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.65 by $0.07. The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $550.30 million. During the same quarter last year, the company posted $0.32 earnings per share. Tower International’s revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Tower International will post $2.90 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. raised their price target on shares of Tower International from $30.00 to $33.00 in a research note on Friday, March 14th. Analysts at FBR Capital Markets raised their price target on shares of Tower International from $28.00 to $33.00 in a research note on Wednesday, March 12th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Tower International has a consensus rating of “Hold” and a consensus price target of $30.33.
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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