Tower International (NYSE:TOWR) had its price objective cut by JPMorgan Chase & Co. from $34.00 to $31.00 in a research note published on Wednesday morning. They currently have a neutral rating on the auto parts company’s stock.
A number of other analysts have also recently commented on the company. ValuEngine cut Tower International from a strong-buy rating to a buy rating in a research report on Tuesday. Zacks Investment Research cut Tower International from a buy rating to a hold rating in a research report on Saturday, December 30th. B. Riley restated a buy rating on shares of Tower International in a research report on Wednesday, November 1st. BidaskClub cut Tower International from a buy rating to a hold rating in a research report on Tuesday, November 7th. Finally, FBR & Co reiterated a buy rating and set a $40.00 price target on shares of Tower International in a research report on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $34.00.
Shares of Tower International (NYSE:TOWR) opened at $28.45 on Wednesday. The company has a market capitalization of $519.37, a P/E ratio of 12.48, a PEG ratio of 0.62 and a beta of 2.48. Tower International has a 12-month low of $21.00 and a 12-month high of $33.65. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.18 and a quick ratio of 1.01.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, February 8th. Tower International’s payout ratio is 21.05%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. increased its position in shares of Tower International by 124.1% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 31,600 shares of the auto parts company’s stock worth $964,000 after purchasing an additional 17,500 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Tower International during the fourth quarter worth approximately $253,000. Bogle Investment Management L P DE purchased a new stake in shares of Tower International during the fourth quarter worth approximately $1,066,000. EAM Investors LLC purchased a new stake in shares of Tower International during the fourth quarter worth approximately $2,087,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Tower International during the fourth quarter worth approximately $217,000. Hedge funds and other institutional investors own 89.84% of the company’s stock.
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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