BidaskClub downgraded shares of Tower International, Inc. (NYSE:TOWR) from a buy rating to a hold rating in a research report report published on Tuesday, November 7th.
TOWR has been the subject of several other research reports. Zacks Investment Research downgraded Tower International from a buy rating to a hold rating in a research note on Wednesday, September 27th. ValuEngine upgraded Tower International from a buy rating to a strong-buy rating in a research note on Wednesday, October 18th. FBR & Co reiterated a buy rating and set a $40.00 price target on shares of Tower International in a research note on Tuesday, October 31st. Finally, TheStreet upgraded Tower International from a c+ rating to a b rating in a research note on Thursday, September 28th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Tower International currently has a consensus rating of Buy and an average target price of $33.67.
Shares of Tower International (NYSE:TOWR) remained flat at $$31.20 during mid-day trading on Tuesday. The stock had a trading volume of 1 shares, compared to its average volume of 127,914. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 1.32. Tower International has a 52-week low of $21.00 and a 52-week high of $33.65. The company has a market capitalization of $640.49, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 0.84 and a beta of 2.69.
Tower International (NYSE:TOWR) last issued its earnings results on Monday, October 30th. The auto parts company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.08. The company had revenue of $462.00 million for the quarter, compared to analyst estimates of $451.73 million. Tower International had a return on equity of 30.51% and a net margin of 3.58%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. sell-side analysts forecast that Tower International will post 3.7 earnings per share for the current year.
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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. This is an increase from Tower International’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.48 annualized dividend and a yield of 1.54%. Tower International’s dividend payout ratio is presently 15.64%.
In other Tower International news, SVP William Cook sold 6,601 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of TOWR. Bowling Portfolio Management LLC acquired a new position in shares of Tower International in the 2nd quarter worth approximately $225,000. Aperio Group LLC acquired a new position in shares of Tower International in the 3rd quarter worth approximately $254,000. Eqis Capital Management Inc. acquired a new position in shares of Tower International in the 3rd quarter worth approximately $259,000. Cigna Investments Inc. New acquired a new position in shares of Tower International in the 2nd quarter worth approximately $317,000. Finally, American International Group Inc. raised its holdings in shares of Tower International by 7.1% in the 1st quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock worth $342,000 after buying an additional 833 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.
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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