Tower International (TOWR) Rating Lowered to Buy at ValuEngine

ValuEngine lowered shares of Tower International (NYSE:TOWR) from a strong-buy rating to a buy rating in a report released on Thursday.

Other research analysts also recently issued reports about the stock. BidaskClub raised shares of Tower International from a sell rating to a hold rating in a report on Friday, September 15th. B. Riley reissued a buy rating on shares of Tower International in a report on Wednesday, November 1st. FBR & Co reissued a buy rating and issued a $40.00 price target on shares of Tower International in a report on Tuesday, October 31st. Zacks Investment Research raised shares of Tower International from a hold rating to a buy rating and set a $28.00 price target for the company in a report on Tuesday, September 26th. Finally, TheStreet raised shares of Tower International from a c+ rating to a b rating in a report on Thursday, September 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $33.67.

Tower International (TOWR) opened at $30.65 on Thursday. The company has a market cap of $629.20, a P/E ratio of 8.51, a P/E/G ratio of 0.83 and a beta of 2.70. Tower International has a fifty-two week low of $21.00 and a fifty-two week high of $33.65. 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 (NYSE:TOWR) last released its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.08. The company had revenue of $462.00 million during the quarter, compared to the consensus estimate of $451.73 million. Tower International had a net margin of 3.58% and a return on equity of 30.51%. Tower International’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.90 EPS. analysts predict that Tower International will post 3.7 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 10th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, November 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.57%. This is a boost from Tower International’s previous quarterly dividend of $0.11. Tower International’s dividend payout ratio (DPR) is 14.63%.

In other news, SVP William Cook sold 6,601 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $31.87, for a total transaction of $210,373.87. Following the sale, the senior vice president now owns 11,917 shares in the company, valued at approximately $379,794.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. Capital Fund Management S.A. purchased a new position in Tower International in the 2nd quarter worth $404,000. Aperio Group LLC purchased a new position in Tower International in the 3rd quarter worth $254,000. Nationwide Fund Advisors increased its position 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 acquiring an additional 80,408 shares during the period. Prudential PLC increased its position 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 acquiring an additional 52,300 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Tower International by 3.1% in the second 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 during the period. Institutional investors own 89.92% of the company’s stock.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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