Tower International, Inc. (TOWR) Cut to “Hold” at ValuEngine
Tower International, Inc. (NYSE:TOWR) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.
TOWR has been the subject of a number of other reports. BidaskClub cut Tower International from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research cut Tower International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 21st. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Tower International in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $31.25.
Tower International (NYSE:TOWR) traded down 1.78% on Thursday, hitting $22.05. 56,337 shares of the stock traded hands. The stock has a market capitalization of $452.49 million, a P/E ratio of 6.42 and a beta of 2.65. The company’s 50 day moving average price is $22.95 and its 200-day moving average price is $24.41. Tower International has a 12-month low of $20.85 and a 12-month high of $30.50.
Tower International (NYSE:TOWR) last announced its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $489.93 million during the quarter, compared to analysts’ expectations of $494.87 million. Tower International had a return on equity of 33.20% and a net margin of 3.76%. Tower International’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. Analysts predict that Tower International will post $3.63 EPS for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in Tower International during the 2nd quarter worth approximately $159,000. SG Americas Securities LLC increased its stake in Tower International by 32.7% during the 1st quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock worth $161,000 after purchasing an additional 1,464 shares in the last quarter. Bowling Portfolio Management LLC bought a new stake in Tower International during the 2nd quarter worth approximately $225,000. Gamco Investors INC. ET AL increased its stake in Tower International by 2.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 12,000 shares of the auto parts company’s stock worth $247,000 after purchasing an additional 300 shares in the last quarter. Finally, Alambic Investment Management L.P. bought a new stake in Tower International during the 2nd quarter worth approximately $311,000. 88.68% of the stock is owned by institutional investors and hedge funds.
About Tower International
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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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