Tower International Inc (NYSE:TOWR) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 324,400 shares, a growth of 33.0% from the May 30th total of 243,900 shares. Based on an average daily volume of 117,700 shares, the days-to-cover ratio is currently 2.8 days. Approximately 1.7% of the company’s stock are short sold.
Hedge funds have recently made changes to their positions in the business. Oberweis Asset Management Inc. lifted its stake in Tower International by 21.5% in the fourth quarter. Oberweis Asset Management Inc. now owns 19,180 shares of the auto parts company’s stock valued at $456,000 after acquiring an additional 3,400 shares during the last quarter. Prudential PLC lifted its stake in Tower International by 2.8% in the fourth quarter. Prudential PLC now owns 555,800 shares of the auto parts company’s stock valued at $13,228,000 after acquiring an additional 15,300 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Tower International by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 206,424 shares of the auto parts company’s stock valued at $4,913,000 after acquiring an additional 12,369 shares during the last quarter. California Public Employees Retirement System lifted its stake in Tower International by 14.3% in the fourth quarter. California Public Employees Retirement System now owns 83,825 shares of the auto parts company’s stock valued at $1,995,000 after acquiring an additional 10,467 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Tower International by 134.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 26,980 shares of the auto parts company’s stock valued at $642,000 after acquiring an additional 15,462 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.
Shares of TOWR opened at $30.99 on Friday. Tower International has a 12 month low of $17.15 and a 12 month high of $36.65. The stock’s fifty day simple moving average is $18.77. The firm has a market capitalization of $641.15 million, a PE ratio of 9.87 and a beta of 2.12. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.39 and a quick ratio of 1.19.
Tower International (NYSE:TOWR) last announced its earnings results on Thursday, May 2nd. The auto parts company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.07. The business had revenue of $378.74 million during the quarter, compared to analysts’ expectations of $373.25 million. Tower International had a net margin of 1.44% and a return on equity of 21.15%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 earnings per share. On average, equities research analysts predict that Tower International will post 2.19 EPS for the current year.
Several research analysts recently commented on the stock. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. Finally, TheStreet cut shares of AMERCO from a “b” rating to a “c+” rating in a report on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $29.00.
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 Brazil. 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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