Tower International (TOWR) Price Target Lowered to $31.00 at JPMorgan Chase & Co.

Tower International (NYSE:TOWR) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $34.00 to $31.00 in a note issued to investors on Wednesday. The brokerage presently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 13.35% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. B. Riley restated a “buy” rating on shares of Tower International in a research note on Wednesday, November 1st. FBR & Co reiterated a “buy” rating and set a $40.00 price target on shares of Tower International in a report on Tuesday, October 31st. ValuEngine downgraded shares of Tower International from a “strong-buy” rating to a “buy” rating in a report on Tuesday. BidaskClub downgraded shares of Tower International from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Zacks Investment Research downgraded shares of Tower International from a “buy” rating to a “hold” rating in a report on Saturday, December 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Tower International presently has a consensus rating of “Hold” and an average price target of $34.00.

Tower International (TOWR) traded up $2.05 during midday trading on Wednesday, reaching $27.35. The company’s stock had a trading volume of 62,852 shares, compared to its average volume of 85,568. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 1.32. Tower International has a 12-month low of $21.00 and a 12-month high of $33.65. The company has a market capitalization of $560.43, a PE ratio of 8.41, a PEG ratio of 0.67 and a beta of 2.48.

Tower International (NYSE:TOWR) last released its earnings results on Tuesday, February 13th. The auto parts company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.02. Tower International had a return on equity of 30.51% and a net margin of 3.58%. The firm had revenue of $538.00 million during the quarter, compared to analysts’ expectations of $531.15 million. During the same period in the prior year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. equities research analysts expect that Tower International will post 3.7 earnings per share for the current year.

Several large investors have recently made changes to their positions in TOWR. State Street Corp increased its holdings in shares of Tower International by 4.7% during the second quarter. State Street Corp now owns 399,280 shares of the auto parts company’s stock worth $8,962,000 after buying an additional 17,814 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Tower International during the third quarter worth $259,000. Aperio Group LLC acquired a new position in shares of Tower International during the third quarter worth $254,000. Gamco Investors INC. ET AL increased its holdings in shares of Tower International by 34.0% during the third quarter. Gamco Investors INC. ET AL now owns 13,400 shares of the auto parts company’s stock worth $364,000 after buying an additional 3,400 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Tower International by 5.1% during the third quarter. Russell Investments Group Ltd. now owns 67,994 shares of the auto parts company’s stock worth $1,849,000 after buying an additional 3,316 shares in the last quarter. Institutional investors own 89.84% of the company’s stock.

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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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