FBR & Co reiterated their buy rating on shares of Tower International, Inc. (NYSE:TOWR) in a research note released on Tuesday. The brokerage currently has a $40.00 target price on the auto parts company’s stock.
TOWR has been the topic of several other reports. BidaskClub cut shares of Tower International from a hold rating to a sell rating in a research note on Wednesday, August 30th. Zacks Investment Research cut shares of Tower International from a buy rating to a hold rating in a research note on Wednesday, September 27th. TheStreet upgraded shares of Tower International from a c+ rating to a b rating in a research note on Thursday, September 28th. Finally, ValuEngine upgraded shares of Tower International from a buy rating to a strong-buy rating in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Tower International presently has an average rating of Buy and an average price target of $33.67.
Tower International (NYSE:TOWR) opened at $32.60 on Tuesday. The firm has a market cap of $678.47, a PE ratio of 9.18, a P/E/G ratio of 0.89 and a beta of 2.69. The company has a quick ratio of 1.04, a current ratio of 1.18 and a debt-to-equity ratio of 1.32.
Tower International (NYSE:TOWR) last posted its earnings results on Monday, October 30th. The auto parts company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.08. Tower International had a net margin of 3.58% and a return on equity of 30.51%. The business had revenue of $462.00 million for the quarter, compared to analysts’ expectations of $451.73 million. During the same period in the prior year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. research analysts predict that Tower International will post 3.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be paid a $0.12 dividend. The ex-dividend date is Thursday, November 9th. This is a boost from Tower International’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.47%. Tower International’s dividend payout ratio is currently 13.41%.
Institutional investors have recently bought and sold shares of the company. Capital Fund Management S.A. purchased a new stake in shares of Tower International during the 2nd quarter valued at $404,000. Nationwide Fund Advisors raised its position in shares of Tower International by 211.8% during the 2nd quarter. Nationwide Fund Advisors now owns 118,372 shares of the auto parts company’s stock valued at $2,657,000 after buying an additional 80,408 shares in the last quarter. Prudential PLC raised its position in shares of Tower International by 8.2% during the 2nd quarter. Prudential PLC now owns 688,000 shares of the auto parts company’s stock valued at $15,446,000 after buying an additional 52,300 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Tower International by 3.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 645,426 shares of the auto parts company’s stock valued at $14,490,000 after buying an additional 19,634 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Tower International by 32.7% during the 1st quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock valued at $161,000 after buying an additional 1,464 shares in the last quarter. Hedge funds and other institutional investors own 88.94% of the company’s stock.
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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