Tower International Insider Unloads $621,052 in Stock (TOWR)
Tower International (NASDAQ:TOWR) Insider James Bernard sold 18,218 shares of Tower International stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $34.09, for a total transaction of $621,051.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Tower International (NASDAQ:TOWR) traded up 0.67% on Tuesday, hitting $34.72. 141,481 shares of the company’s stock traded hands. Tower International has a 52 week low of $18.86 and a 52 week high of $37.50. The stock’s 50-day moving average is $34.96 and its 200-day moving average is $29.93. The company has a market cap of $719.4 million and a price-to-earnings ratio of 13.50.
Tower International (NASDAQ:TOWR) last announced its earnings results on Thursday, July 31st. The company reported $0.93 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.81 by $0.12. The company had revenue of $576.57 million for the quarter, compared to the consensus estimate of $571.83 million. During the same quarter last year, the company posted $1.03 earnings per share. Tower International’s revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that Tower International will post $3.07 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on TOWR shares. Analysts at Zacks upgraded shares of Tower International from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $38.40 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Tower International in a research note on Monday, August 4th. They now have a $39.00 price target on the stock, up previously from $33.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Tower International in a research note on Tuesday, July 22nd. They now have a $36.00 price target on the stock, up previously from $29.00. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $37.28.
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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