ValuEngine cut shares of Tower International (NYSE:TOWR) from a buy rating to a hold rating in a research note issued to investors on Thursday, September 13th.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Tower International from a hold rating to a sell rating in a research report on Friday, July 20th. Citigroup raised their price objective on shares of Tower International from $29.00 to $34.00 and gave the stock a neutral rating in a research report on Thursday, August 9th. Finally, Roth Capital assumed coverage on shares of Tower International in a report on Thursday, May 24th. They issued a buy rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Tower International currently has a consensus rating of Hold and an average target price of $35.20.
Tower International stock traded down $0.56 during mid-day trading on Thursday, reaching $28.29. 94,351 shares of the company’s stock were exchanged, compared to its average volume of 101,873. Tower International has a twelve month low of $24.25 and a twelve month high of $36.65. The firm has a market cap of $623.27 million, a PE ratio of 7.52, a price-to-earnings-growth ratio of 0.92 and a beta of 2.31. The company has a quick ratio of 0.98, a current ratio of 1.16 and a debt-to-equity ratio of 1.15.
Tower International (NYSE:TOWR) last announced its quarterly earnings data on Tuesday, July 31st. The auto parts company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.01. The business had revenue of $556.01 million for the quarter, compared to analyst estimates of $554.90 million. Tower International had a net margin of 2.39% and a return on equity of 28.42%. The company’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. On average, equities research analysts anticipate that Tower International will post 4.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Thursday, August 9th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, August 8th. Tower International’s dividend payout ratio is presently 12.77%.
Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Tower International by 5.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,282,633 shares of the auto parts company’s stock valued at $35,593,000 after buying an additional 61,233 shares during the last quarter. Prudential Financial Inc. grew its holdings in Tower International by 6.4% in the first quarter. Prudential Financial Inc. now owns 476,650 shares of the auto parts company’s stock valued at $13,227,000 after purchasing an additional 28,876 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Tower International by 18.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 325,207 shares of the auto parts company’s stock valued at $9,025,000 after purchasing an additional 51,028 shares during the period. Millennium Management LLC grew its holdings in Tower International by 29.6% in the first quarter. Millennium Management LLC now owns 296,525 shares of the auto parts company’s stock valued at $8,229,000 after purchasing an additional 67,751 shares during the period. Finally, Northern Trust Corp grew its holdings in Tower International by 1.5% in the first quarter. Northern Trust Corp now owns 217,161 shares of the auto parts company’s stock valued at $6,026,000 after purchasing an additional 3,169 shares during the period. 89.94% of the stock is owned by institutional investors and hedge funds.
About Tower International
Tower International, Inc manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. It operates in two segments, North America and Europe. The company provides body structures and assemblies, including structural metal components, which comprise body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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