Tower International, Inc. (TOWR) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Tower International, Inc. (NYSE:TOWR) from a buy rating to a hold rating in a report released on Tuesday morning.
Several other analysts have also commented on TOWR. Zacks Investment Research lowered shares of Tower International from a strong-buy rating to a hold rating in a research note on Friday, July 21st. ValuEngine raised shares of Tower International from a hold rating to a buy rating in a research note on Friday, September 22nd. FBR & Co reissued a buy rating and set a $40.00 target price on shares of Tower International in a research note on Tuesday, October 31st. Finally, TheStreet raised shares of Tower International from a c+ rating to a b rating in a research note on Thursday, September 28th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Tower International has an average rating of Buy and an average price target of $33.67.
Tower International (NYSE TOWR) opened at $30.80 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 1.32. The stock has a market cap of $638.43, a P/E ratio of 8.64, a PEG ratio of 0.84 and a beta of 2.69. Tower International has a 1-year low of $21.00 and a 1-year high of $33.65.
Tower International (NYSE:TOWR) last posted its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.08. The business had revenue of $462.00 million during the quarter, compared to analysts’ expectations of $451.73 million. Tower International had a net margin of 3.58% and a return on equity of 30.51%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. analysts anticipate that Tower International will post 3.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, November 9th. This is a positive change from Tower International’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.56%. Tower International’s dividend payout ratio is currently 14.63%.
In related news, SVP William Cook sold 6,601 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $31.87, for a total value of $210,373.87. Following the completion of the sale, the senior vice president now owns 11,917 shares in the company, valued at approximately $379,794.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.20% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Capital Fund Management S.A. purchased a new stake in shares of Tower International in the 2nd quarter valued at approximately $404,000. Nationwide Fund Advisors lifted its position in shares of Tower International by 211.8% in the 2nd 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 in the last quarter. Prudential PLC lifted its position in shares of Tower International by 8.2% in the 2nd quarter. Prudential PLC now owns 688,000 shares of the auto parts company’s stock valued at $15,446,000 after acquiring an additional 52,300 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Tower International by 3.1% in the 2nd 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 in the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of Tower International in the 2nd quarter valued at approximately $951,000. Institutional investors and hedge funds own 88.89% of the company’s stock.
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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