Tower International Inc (TOWR) Receives Consensus Recommendation of “Buy” from Analysts
Tower International Inc (NYSE:TOWR) has been given an average recommendation of “Buy” by the seven ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $35.00.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Tower International from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, September 26th. BidaskClub downgraded shares of Tower International from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. ValuEngine upgraded shares of Tower International from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. B. Riley restated a “buy” rating on shares of Tower International in a report on Wednesday, November 1st. Finally, TheStreet upgraded shares of Tower International from a “c+” rating to a “b” rating in a report on Thursday, September 28th.
Tower International (NYSE TOWR) opened at $31.45 on Tuesday. The company has a market cap of $645.62, a price-to-earnings ratio of 10.24, a P/E/G ratio of 0.78 and a beta of 2.70. Tower International has a twelve month low of $21.00 and a twelve month high of $33.65. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 1.32.
In other news, SVP William Cook sold 6,601 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $31.87, for a total transaction of $210,373.87. Following the transaction, the senior vice president now owns 11,917 shares in the company, valued at approximately $379,794.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TOWR. Bank of New York Mellon Corp increased its stake in Tower International by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 263,023 shares of the auto parts company’s stock valued at $5,905,000 after acquiring an additional 1,136 shares during the period. Martingale Asset Management L P increased its stake in Tower International by 7.1% in the second quarter. Martingale Asset Management L P now owns 53,126 shares of the auto parts company’s stock valued at $1,193,000 after acquiring an additional 3,501 shares during the period. Capital Fund Management S.A. bought a new stake in Tower International in the second quarter valued at about $404,000. Ameriprise Financial Inc. increased its stake in Tower International by 3.1% in the second quarter. Ameriprise Financial Inc. now owns 645,426 shares of the auto parts company’s stock valued at $14,490,000 after acquiring an additional 19,634 shares during the period. Finally, Nationwide Fund Advisors increased its stake in Tower International by 211.8% in the second quarter. Nationwide Fund Advisors now owns 118,372 shares of the auto parts company’s stock valued at $2,657,000 after acquiring an additional 80,408 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.
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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).
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