Tower International (TOWR) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Tower International (NYSE:TOWR) from a hold rating to a buy rating in a report issued on Thursday.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Tower International from a buy rating to a hold rating in a research note on Tuesday, May 8th. JPMorgan Chase decreased their price target on shares of Tower International from $34.00 to $31.00 and set a neutral rating on the stock in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $33.67.

Tower International opened at $28.90 on Thursday, Marketbeat reports. Tower International has a 12-month low of $21.00 and a 12-month high of $33.65. The stock has a market cap of $603.44 million, a price-to-earnings ratio of 7.69, a PEG ratio of 0.88 and a beta of 2.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.97 and a current ratio of 1.12.

Tower International (NYSE:TOWR) last released its quarterly earnings results on Thursday, May 3rd. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Tower International had a net margin of 2.32% and a return on equity of 28.77%. The company had revenue of $563.51 million for the quarter, compared to analysts’ expectations of $546.67 million. During the same period last year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. equities research analysts expect that Tower International will post 4.14 EPS 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 paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.66%. Tower International’s dividend payout ratio is currently 12.77%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. acquired a new stake in shares of Tower International in the fourth quarter worth approximately $217,000. Paloma Partners Management Co acquired a new stake in shares of Tower International in the fourth quarter worth approximately $253,000. MetLife Investment Advisors LLC acquired a new stake in shares of Tower International in the fourth quarter worth approximately $319,000. Element Capital Management LLC acquired a new stake in shares of Tower International in the first quarter worth approximately $387,000. Finally, Eqis Capital Management Inc. boosted its position in shares of Tower International by 52.6% in the fourth quarter. Eqis Capital Management Inc. now owns 14,514 shares of the auto parts company’s stock worth $443,000 after acquiring an additional 5,002 shares during the last quarter. 90.71% of the stock is currently owned by institutional investors and hedge funds.

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 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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