Tower International, Inc. (TOWR) Earns “Buy” Rating from FBR & Co
FBR & Co restated their buy rating on shares of Tower International, Inc. (NYSE:TOWR) in a research note issued to investors on Tuesday morning. The brokerage currently has a $40.00 target price on the auto parts company’s stock.
Several other research analysts also recently weighed in on TOWR. ValuEngine upgraded Tower International from a buy rating to a strong-buy rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Tower International from a hold rating to a strong-buy rating and set a $27.00 target price on the stock in a research note on Thursday, July 20th. Finally, BidaskClub downgraded Tower International from a hold rating to a sell rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $32.25.
Tower International (NYSE:TOWR) last announced its earnings results on Monday, October 30th. The auto parts company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.08. Tower International had a return on equity of 30.51% and a net margin of 3.58%. The firm had revenue of $462.00 million for the quarter, compared to the consensus estimate of $451.73 million. During the same period in the previous year, the business earned $0.90 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be paid a $0.12 dividend. This is an increase from Tower International’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, November 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. Tower International’s dividend payout ratio is presently 13.41%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOWR. Thrivent Financial For Lutherans raised its holdings in Tower International by 74.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 521,942 shares of the auto parts company’s stock worth $11,718,000 after purchasing an additional 222,485 shares during the period. Nationwide Fund Advisors increased its holdings in shares of 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 purchasing an additional 80,408 shares during the last quarter. Prudential PLC increased its holdings in shares of Tower International by 8.2% in the second quarter. Prudential PLC now owns 688,000 shares of the auto parts company’s stock valued at $15,446,000 after purchasing an additional 52,300 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of Tower International in the second quarter valued at approximately $951,000. Finally, Geode Capital Management LLC increased its holdings in shares of Tower International by 16.5% in the first quarter. Geode Capital Management LLC now owns 188,995 shares of the auto parts company’s stock valued at $5,121,000 after purchasing an additional 26,727 shares during the last quarter. 88.94% of the stock is owned by institutional investors.
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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