Tower International (NYSE:TOWR) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, ValuEngine reports.
TOWR has been the subject of several other reports. TheStreet lowered AMERCO from a “b” rating to a “c+” rating in a research report on Monday, March 25th. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.00.
Tower International stock traded up $12.72 during mid-day trading on Friday, hitting $30.99. The company’s stock had a trading volume of 4,675,600 shares, compared to its average volume of 167,961. The firm has a market cap of $382.12 million, a price-to-earnings ratio of 8.85 and a beta of 2.12. Tower International has a 1 year low of $17.15 and a 1 year high of $36.65. The company has a quick ratio of 1.19, a current ratio of 1.39 and a debt-to-equity ratio of 1.53. The business has a fifty day moving average price of $18.77.
Tower International (NYSE:TOWR) last released its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.16 by $0.07. Tower International had a return on equity of 21.15% and a net margin of 1.44%. The business had revenue of $378.74 million during the quarter, compared to analyst estimates of $373.25 million. During the same period last year, the business posted $0.82 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, analysts predict that Tower International will post 2.19 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TOWR. BNP Paribas Arbitrage SA raised its stake in shares of Tower International by 177.7% in the first quarter. BNP Paribas Arbitrage SA now owns 4,130 shares of the auto parts company’s stock valued at $87,000 after acquiring an additional 2,643 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Tower International in the first quarter valued at $138,000. Meeder Asset Management Inc. raised its stake in shares of Tower International by 74.9% in the first quarter. Meeder Asset Management Inc. now owns 6,959 shares of the auto parts company’s stock valued at $147,000 after acquiring an additional 2,980 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Tower International by 334.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,499 shares of the auto parts company’s stock valued at $155,000 after acquiring an additional 5,004 shares in the last quarter. Finally, United Services Automobile Association raised its stake in shares of Tower International by 12.8% in the fourth quarter. United Services Automobile Association now owns 10,079 shares of the auto parts company’s stock valued at $240,000 after acquiring an additional 1,146 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.
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 Brazil. 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.
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