Tower International, Inc. (NYSE:TOWR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, July 20th. The firm currently has a $27.00 target price on the auto parts company’s stock. Zacks Investment Research‘s target price points to a potential upside of 23.57% from the company’s previous close.
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. “
Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Tower International from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. FBR & Co reiterated an “outperform” rating and set a $40.00 target price on shares of Tower International in a research report on Friday, June 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $31.25.
Shares of Tower International (NYSE TOWR) traded down 5.00% during mid-day trading on Thursday, hitting $21.85. 86,853 shares of the company traded hands. Tower International has a one year low of $20.85 and a one year high of $30.50. The firm has a 50-day moving average of $23.05 and a 200-day moving average of $24.85. The stock has a market capitalization of $448.38 million, a price-to-earnings ratio of 6.36 and a beta of 2.59.
Tower International (NYSE:TOWR) last posted its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Tower International had a net margin of 3.76% and a return on equity of 33.20%. The business had revenue of $489.93 million during the quarter, compared to the consensus estimate of $494.87 million. During the same quarter last year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities analysts predict that Tower International will post $3.63 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of TOWR. SG Americas Securities LLC increased its position in Tower International by 32.7% in the first 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 during the period. Bowling Portfolio Management LLC purchased a new position in shares of Tower International during the second quarter valued at approximately $225,000. Gamco Investors INC. ET AL increased its position in shares of Tower International by 9.1% in the first quarter. Gamco Investors INC. ET AL now owns 10,800 shares of the auto parts company’s stock valued at $293,000 after buying an additional 900 shares during the last quarter. Cigna Investments Inc. New purchased a new position in shares of Tower International during the second quarter valued at approximately $317,000. Finally, American International Group Inc. increased its position in shares of Tower International by 7.1% in the first quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock valued at $342,000 after buying an additional 833 shares during the last quarter. 91.40% of the stock is currently owned by hedge funds and other institutional investors.
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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