Tower International (TOWR) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Tower International (NYSE:TOWR) from a buy rating to a hold rating in a report released on Tuesday, May 8th.

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. “

A number of other equities research analysts also recently commented on the company. ValuEngine downgraded Tower International from a strong-buy rating to a buy rating in a research report on Wednesday, May 2nd. JPMorgan Chase lowered their price target on Tower International from $34.00 to $31.00 and set a neutral rating for the company in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Tower International currently has an average rating of Buy and a consensus target price of $33.67.

Shares of NYSE:TOWR opened at $29.30 on Tuesday. The firm has a market capitalization of $593.14 million, a PE ratio of 7.56, a price-to-earnings-growth ratio of 0.87 and a beta of 2.33. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.18. Tower International has a 52 week low of $28.10 and a 52 week high of $28.30.

Tower International (NYSE:TOWR) last announced its quarterly earnings data on Thursday, May 3rd. The auto parts company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The business had revenue of $563.51 million during the quarter, compared to the consensus estimate of $546.67 million. Tower International had a return on equity of 28.77% and a net margin of 2.32%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. research analysts anticipate that Tower International will post 4.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, May 9th. Tower International’s dividend payout ratio (DPR) is presently 12.77%.

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Tower International by 5.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,282,633 shares of the auto parts company’s stock worth $35,593,000 after buying an additional 61,233 shares during the period. LSV Asset Management boosted its position in shares of Tower International by 0.9% in the first quarter. LSV Asset Management now owns 1,090,395 shares of the auto parts company’s stock worth $30,258,000 after buying an additional 9,800 shares during the period. Prudential Financial Inc. boosted its position in shares of Tower International by 6.4% in the first quarter. Prudential Financial Inc. now owns 476,650 shares of the auto parts company’s stock worth $13,227,000 after buying an additional 28,876 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Tower International by 18.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 325,207 shares of the auto parts company’s stock worth $9,025,000 after buying an additional 51,028 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Tower International by 29.6% in the first quarter. Millennium Management LLC now owns 296,525 shares of the auto parts company’s stock worth $8,229,000 after buying an additional 67,751 shares during the period. 90.71% of the stock is owned by hedge funds and other institutional investors.

Tower International Company Profile

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 Europe. 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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