Citigroup Boosts Tower International (TOWR) Price Target to $34.00

Tower International (NYSE:TOWR) had its price objective hoisted by Citigroup from $29.00 to $34.00 in a research report report published on Thursday morning. They currently have a neutral rating on the auto parts company’s stock.

Several other equities research analysts also recently weighed in on TOWR. ValuEngine raised shares of Tower International from a hold rating to a buy rating in a research report on Saturday, June 16th. Zacks Investment Research raised shares of Tower International from a sell rating to a hold rating in a research report on Friday, August 3rd. Finally, Roth Capital began coverage on shares of Tower International in a research report on Thursday, May 24th. They issued a buy rating and a $41.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $35.20.

Shares of Tower International traded up $0.30, hitting $33.40, during midday trading on Thursday, MarketBeat Ratings reports. 163,679 shares of the company’s stock traded hands, compared to its average volume of 97,585. The company has a current ratio of 1.16, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $681.99 million, a price-to-earnings ratio of 8.88, a PEG ratio of 1.00 and a beta of 2.27. Tower International has a twelve month low of $21.25 and a twelve month high of $34.55.

Tower International (NYSE:TOWR) last issued its quarterly earnings data on Tuesday, July 31st. The auto parts company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. Tower International had a net margin of 2.39% and a return on equity of 28.42%. The firm had revenue of $556.01 million for the quarter, compared to analyst estimates of $554.90 million. During the same quarter in the previous year, the business posted $0.97 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. analysts predict that Tower International will post 4.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Thursday, August 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, August 8th. Tower International’s dividend payout ratio is presently 12.77%.

In related news, COO Michael Rajkovic sold 17,764 shares of the business’s stock in a transaction dated Tuesday, June 26th. The shares were sold at an average price of $33.38, for a total transaction of $592,962.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.20% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. United Services Automobile Association bought a new position in Tower International in the 2nd quarter worth about $443,000. Paradigm Capital Management Inc. NY bought a new position in Tower International in the 2nd quarter worth about $1,622,000. Segall Bryant & Hamill LLC grew its position in Tower International by 19.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 21,251 shares of the auto parts company’s stock worth $676,000 after purchasing an additional 3,470 shares during the last quarter. Russell Investments Group Ltd. grew its position in Tower International by 340.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 197,016 shares of the auto parts company’s stock worth $6,268,000 after purchasing an additional 152,251 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Tower International in the 2nd quarter worth about $234,000. 89.97% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Tower International (NYSE:TOWR)

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