Tower International, Inc. (TOWR) Given Average Rating of “Buy” by Analysts
Shares of Tower International, Inc. (NYSE:TOWR) have earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research 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 $32.67.
Several equities analysts have recently commented on the stock. FBR & Co restated a “buy” rating and issued a $40.00 target price on shares of Tower International in a research report on Tuesday. ValuEngine upgraded shares of Tower International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 18th. Zacks Investment Research cut shares of Tower International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. BidaskClub upgraded shares of Tower International from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Finally, TheStreet upgraded shares of Tower International from a “c+” rating to a “b” rating in a research report on Thursday, September 28th.
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Several institutional investors have recently made changes to their positions in TOWR. SG Americas Securities LLC grew its holdings in shares of 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 valued at $161,000 after purchasing an additional 1,464 shares during the last quarter. Bowling Portfolio Management LLC bought a new stake in shares of Tower International during the 2nd quarter valued at approximately $225,000. Aperio Group LLC bought a new stake in shares of Tower International during the 3rd quarter valued at approximately $254,000. Eqis Capital Management Inc. bought a new stake in shares of Tower International during the 3rd quarter valued at approximately $259,000. Finally, Cigna Investments Inc. New bought a new stake in shares of Tower International during the 2nd quarter valued at approximately $317,000. 88.94% of the stock is currently owned by institutional investors.
Tower International (NYSE:TOWR) last issued its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.08. Tower International had a net margin of 3.58% and a return on equity of 30.51%. The business had revenue of $462.00 million during the quarter, compared to analysts’ expectations of $451.73 million. During the same quarter in the previous year, the company earned $0.90 EPS. The business’s revenue was up 1.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from Tower International’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.58%. Tower International’s payout ratio is presently 13.41%.
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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