Tower International Inc (TOWR) Given Average Rating of “Hold” by Brokerages
Tower International Inc (NYSE:TOWR) has been assigned an average recommendation of “Hold” from the six brokerages that are covering the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.40.
A number of research analysts recently issued reports on TOWR shares. Zacks Investment Research upgraded shares of Tower International from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Thursday, November 24th. Citigroup Inc downgraded shares of Tower International from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $29.00 to $30.00 in a research note on Wednesday, February 15th. Finally, FBR & Co reiterated an “outperform” rating and issued a $40.00 price target on shares of Tower International in a research note on Wednesday, February 15th. They noted that the move was a valuation call.
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In other news, COO Michael Rajkovic sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $28.07, for a total transaction of $1,684,200.00. Following the completion of the sale, the chief operating officer now owns 15,312 shares in the company, valued at approximately $429,807.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors increased its stake in shares of Tower International by 9.5% in the third quarter. Nationwide Fund Advisors now owns 35,757 shares of the company’s stock valued at $862,000 after buying an additional 3,100 shares in the last quarter. Alambic Investment Management L.P. increased its stake in shares of Tower International by 66.9% in the third quarter. Alambic Investment Management L.P. now owns 25,200 shares of the company’s stock valued at $607,000 after buying an additional 10,100 shares in the last quarter. Capital Fund Management S.A. bought a new stake in shares of Tower International during the third quarter valued at $821,000. Peregrine Capital Management LLC bought a new stake in shares of Tower International during the third quarter valued at $10,793,000. Finally, Victory Capital Management Inc. increased its stake in shares of Tower International by 49.0% in the third quarter. Victory Capital Management Inc. now owns 41,350 shares of the company’s stock valued at $997,000 after buying an additional 13,600 shares in the last quarter. Institutional investors and hedge funds own 89.13% of the company’s stock.
Tower International (NYSE:TOWR) traded up 0.18% during mid-day trading on Monday, hitting $28.20. 34,488 shares of the stock were exchanged. The company has a 50 day moving average price of $27.25 and a 200 day moving average price of $25.71. Tower International has a 52-week low of $18.75 and a 52-week high of $29.05. The firm has a market cap of $624.29 million, a price-to-earnings ratio of 15.50 and a beta of 1.94.
Tower International (NYSE:TOWR) last issued its quarterly earnings results on Tuesday, February 14th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Tower International had a net margin of 8.48% and a return on equity of 148.27%. The company earned $462.30 million during the quarter, compared to the consensus estimate of $465.15 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts anticipate that Tower International will post $3.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 10th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, February 8th. This represents a $0.44 annualized dividend and a dividend yield of 1.56%. Tower International’s dividend payout ratio is presently 5.66%.
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 operates in two segments: Americas and International. The International segment consists of Europe and Asia, and the Americas segment consists of North America and South America.
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