Tower International, Inc. (TOWR) Rating Lowered to Hold at Zacks Investment Research
Tower International, Inc. (NYSE:TOWR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Friday.
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. FBR & Co restated an “outperform” rating and issued a $40.00 price objective on shares of Tower International in a research note on Monday, June 12th. ValuEngine cut shares of Tower International from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $32.00.
Shares of Tower International (TOWR) opened at 23.30 on Friday. The company has a market cap of $477.39 million, a P/E ratio of 10.33 and a beta of 2.57. Tower International has a 52-week low of $20.85 and a 52-week high of $30.50. The stock has a 50 day moving average of $22.56 and a 200 day moving average of $25.33.
Tower International (NYSE:TOWR) last issued its quarterly earnings results on Tuesday, May 2nd. The auto parts company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Tower International had a net margin of 2.47% and a return on equity of 33.60%. The firm had revenue of $497.60 million during the quarter, compared to the consensus estimate of $476.75 million. During the same period in the prior year, the firm earned $0.63 EPS. The business’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts anticipate that Tower International will post $3.63 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in TOWR. SG Americas Securities LLC boosted its stake in shares of Tower International by 32.7% in 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 period. Gamco Investors INC. ET AL boosted its stake in shares of Tower International by 9.1% in 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 period. American International Group Inc. boosted its stake in shares of Tower International by 7.1% in 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 period. Tudor Investment Corp ET AL boosted its stake in shares of Tower International by 105.0% in the first quarter. Tudor Investment Corp ET AL now owns 20,400 shares of the auto parts company’s stock worth $553,000 after buying an additional 10,450 shares during the period. Finally, Alambic Investment Management L.P. boosted its stake in shares of Tower International by 10.2% in the first quarter. Alambic Investment Management L.P. now owns 34,500 shares of the auto parts company’s stock worth $935,000 after buying an additional 3,200 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.
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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