Tower International, Inc. (TOWR) Receives Consensus Recommendation of “Buy” from Analysts
Tower International, Inc. (NYSE:TOWR) has been assigned an average rating of “Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $33.25.
Several equities analysts have commented on the company. Zacks Investment Research raised Tower International from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, July 20th. ValuEngine raised Tower International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Tower International in a research report on Friday, June 30th.
Several large investors have recently modified their holdings of TOWR. Geode Capital Management LLC boosted its stake in shares of Tower International by 16.5% in the first quarter. Geode Capital Management LLC now owns 188,995 shares of the auto parts company’s stock worth $5,121,000 after buying an additional 26,727 shares during the period. Bogle Investment Management L P DE bought a new stake in shares of Tower International during the first quarter worth $2,662,000. California Public Employees Retirement System boosted its stake in shares of Tower International by 3.2% in the first quarter. California Public Employees Retirement System now owns 121,600 shares of the auto parts company’s stock worth $3,295,000 after buying an additional 3,800 shares during the period. Teachers Advisors LLC boosted its stake in shares of Tower International by 2.6% in the first quarter. Teachers Advisors LLC now owns 37,704 shares of the auto parts company’s stock worth $1,022,000 after buying an additional 949 shares during the period. Finally, 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. Hedge funds and other institutional investors own 89.18% of the company’s stock.
Shares of Tower International (TOWR) traded up 1.13% during mid-day trading on Tuesday, reaching $22.45. The company had a trading volume of 10,657 shares. The stock has a market capitalization of $459.98 million, a price-to-earnings ratio of 9.95 and a beta of 2.57. The firm has a 50-day moving average price of $22.47 and a 200-day moving average price of $25.23. Tower International has a 1-year low of $20.85 and a 1-year high of $30.50.
Tower International (NYSE:TOWR) last announced its quarterly earnings data on Tuesday, May 2nd. The auto parts company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.16. The company had revenue of $497.60 million for the quarter, compared to the consensus estimate of $476.75 million. Tower International had a return on equity of 33.60% and a net margin of 2.47%. Tower International’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. Equities analysts expect that Tower International will post $3.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, August 8th. Tower International’s payout ratio is 19.38%.
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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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