Tower International (NYSE:TOWR) had its target price cut by JPMorgan Chase & Co. from $34.00 to $31.00 in a research report sent to investors on Wednesday, February 14th. They currently have a neutral rating on the auto parts company’s stock.
TOWR has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Tower International from a hold rating to a buy rating and set a $35.00 target price for the company in a research report on Thursday, December 21st. ValuEngine raised shares of Tower International from a buy rating to a strong-buy rating in a report on Wednesday, October 18th. BidaskClub downgraded shares of Tower International from a buy rating to a hold rating in a report on Tuesday, November 7th. 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. Finally, B. Riley reissued a buy rating on shares of Tower International in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $35.33.
Tower International (TOWR) traded up $0.10 during mid-day trading on Wednesday, reaching $26.35. 95,305 shares of the company’s stock traded hands, compared to its average volume of 101,374. The company has a market capitalization of $540.92, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 0.81 and a beta of 2.50. The company has a current ratio of 1.14, a quick ratio of 1.01 and a debt-to-equity ratio of 1.28. Tower International has a 12-month low of $21.00 and a 12-month high of $33.65.
Tower International (NYSE:TOWR) last released its quarterly earnings results on Tuesday, February 13th. The auto parts company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.15 by $0.02. The business had revenue of $538.00 million during the quarter, compared to analyst estimates of $531.15 million. Tower International had a net margin of 2.40% and a return on equity of 30.05%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 earnings per share. equities research analysts predict that Tower International will post 4.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Friday, February 9th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Thursday, February 8th. Tower International’s dividend payout ratio is presently 55.17%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in shares of Tower International by 0.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 647,441 shares of the auto parts company’s stock valued at $17,610,000 after purchasing an additional 2,015 shares during the period. State Street Corp increased its holdings in shares of Tower International by 4.7% in the 2nd quarter. State Street Corp now owns 399,280 shares of the auto parts company’s stock valued at $8,962,000 after purchasing an additional 17,814 shares during the period. California Public Employees Retirement System increased its holdings in shares of Tower International by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 123,628 shares of the auto parts company’s stock valued at $3,363,000 after purchasing an additional 6,728 shares during the period. EAM Investors LLC acquired a new position in shares of Tower International in the 4th quarter valued at about $2,087,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Tower International by 5.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 67,994 shares of the auto parts company’s stock valued at $1,849,000 after purchasing an additional 3,316 shares during the period. Institutional investors own 89.39% 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).
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