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.
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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