Tower International Inc. (TOWR) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Tower International Inc. (NYSE:TOWR) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $26.00 target price on the stock.
According to Zacks, “TA Delaware, Inc. is engaged in the manufacture of engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers. It offers its automotive customers body-structure stampings, frame and other chassis structures, as well as complex welded assemblies, for small and large cars, crossovers, pickups and SUVs. Its manufacturing operations consist primarily of stamping and welding operations, system and modular assembly operations, coating, and other ancillary operations. The Company uses various grades and thicknesses of steel and aluminum; including high-strength, hot- and cold-rolled, galvanized, organically coated, stainless, and aluminized steel; for the manufacture of its products. TA Delaware, Inc. is headquartered in Livonia, Michigan. “
TOWR has been the topic of several other research reports. Wells Fargo & Co. restated a hold rating and set a $24.00 price target on shares of Tower International in a report on Monday, July 18th. FBR & Co reaffirmed a buy rating on shares of Tower International in a research report on Wednesday, July 27th. Finally, Seaport Global Securities initiated coverage on Tower International in a research report on Tuesday, August 9th. They issued a buy rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $30.40.
Tower International (NYSE:TOWR) opened at 23.89 on Wednesday. The stock has a 50 day moving average price of $23.35 and a 200 day moving average price of $23.31. Tower International has a 52-week low of $18.75 and a 52-week high of $31.41. The stock has a market cap of $502.93 million, a price-to-earnings ratio of 3.11 and a beta of 2.01.
Tower International (NYSE:TOWR) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.10. Tower International had a return on equity of 162.08% and a net margin of 8.31%. The company had revenue of $505.10 million for the quarter, compared to analyst estimates of $504.70 million. During the same quarter in the prior year, the firm posted $1.05 EPS. Tower International’s quarterly revenue was up 12.4% compared to the same quarter last year. Analysts expect that Tower International will post $3.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Monday, August 8th. Tower International’s payout ratio is 5.21%.
In other news, CFO James C. Gouin purchased 2,500 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were acquired at an average price of $19.66 per share, with a total value of $49,150.00. Following the transaction, the chief financial officer now owns 110,212 shares of the company’s stock, valued at $2,166,767.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas K. Brown purchased 6,390 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were purchased at an average cost of $19.70 per share, for a total transaction of $125,883.00. Following the transaction, the director now directly owns 6,390 shares in the company, valued at approximately $125,883. The disclosure for this purchase can be found here. Insiders own 6.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of TOWR. Quantbot Technologies LP purchased a new position in Tower International during the second quarter worth about $159,000. Gamco Investors INC. ET AL boosted its stake in shares of Tower International by 2.6% in the second quarter. Gamco Investors INC. ET AL now owns 12,000 shares of the company’s stock worth $247,000 after buying an additional 300 shares during the period. Alambic Investment Management L.P. bought a new stake in shares of Tower International during the second quarter worth $311,000. Icon Advisers Inc. Co. bought a new stake in shares of Tower International during the second quarter worth $311,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Tower International by 3.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,034 shares of the company’s stock worth $436,000 after buying an additional 535 shares during the period. 92.24% of the stock is currently owned by institutional investors and hedge funds.
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 operates in two segments: Americas and International. The International segment consists of Europe and Asia, and the Americas segment consists of North America and South America.
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