Tower International, Inc. (TOWR) Upgraded by BidaskClub to Hold
Tower International, Inc. (NYSE:TOWR) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.
A number of other equities analysts have also commented on TOWR. FBR & Co restated an “outperform” rating and issued a $40.00 price objective on shares of Tower International in a research report on Monday, June 12th. ValuEngine lowered shares of Tower International from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Zacks Investment Research lowered shares of Tower International from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 21st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $31.25.
Shares of Tower International (NYSE TOWR) traded up 1.49% during trading on Friday, hitting $23.80. 154,371 shares of the stock traded hands. The stock has a 50-day moving average of $22.92 and a 200 day moving average of $24.22. Tower International has a 1-year low of $20.85 and a 1-year high of $30.50. The company has a market cap of $488.40 million, a P/E ratio of 6.93 and a beta of 2.65.
Tower International (NYSE:TOWR) last issued its earnings results on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $489.93 million during the quarter, compared to analyst estimates of $494.87 million. Tower International had a net margin of 3.76% and a return on equity of 33.20%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.81 earnings per share. On average, equities research analysts predict that Tower International will post $3.63 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Bogle Investment Management L P DE bought a new position in shares of Tower International in the first quarter valued at approximately $2,662,000. SG Americas Securities LLC boosted its position 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 valued at $161,000 after acquiring an additional 1,464 shares during the period. Alambic Investment Management L.P. boosted its position 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 valued at $935,000 after acquiring an additional 3,200 shares during the period. First Quadrant L P CA bought a new position in shares of Tower International in the second quarter valued at approximately $951,000. Finally, Tudor Investment Corp ET AL boosted its position 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 valued at $553,000 after acquiring an additional 10,450 shares during the period. Institutional investors own 88.68% 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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