Zacks Investment Research upgraded shares of Tower International Inc. (NYSE:TOWR) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $27.00 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. “
A number of other analysts have also issued reports on TOWR. FBR & Co reissued a buy rating on shares of Tower International in a research note on Saturday, June 18th. Wells Fargo & Co. reissued a hold rating and issued a $24.00 price target on shares of Tower International in a research note on Monday, July 18th. Finally, Seaport Global Securities began coverage on Tower International in a research note on Tuesday, August 9th. They issued a buy rating and a $35.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $30.60.
Shares of Tower International (NYSE:TOWR) opened at 23.35 on Thursday. The company’s 50 day moving average is $23.63 and its 200-day moving average is $23.30. The stock has a market capitalization of $491.56 million, a price-to-earnings ratio of 3.04 and a beta of 2.01. Tower International has a 1-year low of $18.75 and a 1-year high of $31.41.
Tower International (NYSE:TOWR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The firm earned $505.10 million during the quarter, compared to analysts’ expectations of $504.70 million. Tower International had a return on equity of 162.08% and a net margin of 8.31%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 EPS. Equities analysts anticipate that Tower International will post $3.20 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, August 8th. Tower International’s dividend payout ratio is currently 5.21%.
Several institutional investors have recently added to or reduced their stakes in TOWR. California Public Employees Retirement System raised its position in Tower International by 1.1% in the second quarter. California Public Employees Retirement System now owns 131,200 shares of the company’s stock valued at $2,700,000 after buying an additional 1,400 shares in the last quarter. SG Americas Securities LLC raised its position in Tower International by 331.1% in the second quarter. SG Americas Securities LLC now owns 126,026 shares of the company’s stock valued at $2,594,000 after buying an additional 96,792 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Tower International during the second quarter valued at $2,364,000. Towle & Co. purchased a new position in Tower International during the second quarter valued at $13,584,000. Finally, Societe Generale purchased a new position in Tower International during the second quarter valued at $2,594,000. 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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