Short Interest in Tower International Inc (NYSE:TOWR) Increases By 33.0%

Tower International Inc (NYSE:TOWR) saw a significant growth in short interest in 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 presently 2.8 days. Currently, 1.7% of the shares of the company are short sold.

Several brokerages have commented on TOWR. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. TheStreet lowered shares of AMERCO from a “b” rating to a “c+” rating in a research note on Monday, March 25th. Finally, ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Tower International presently has a consensus rating of “Hold” and an average target price of $29.00.

NYSE 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 company has a quick ratio of 1.19, a current ratio of 1.39 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $641.15 million, a price-to-earnings ratio of 9.87 and a beta of 2.12. The company’s 50 day moving average is $18.77.

Tower International (NYSE:TOWR) last posted its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.07. Tower International had a net margin of 1.44% and a return on equity of 21.15%. The business had revenue of $378.74 million for the quarter, compared to analyst estimates of $373.25 million. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts forecast that Tower International will post 2.19 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of TOWR. Paradigm Capital Management Inc. NY raised its stake in shares of Tower International by 4.2% during the first quarter. Paradigm Capital Management Inc. NY now owns 50,000 shares of the auto parts company’s stock worth $1,051,000 after buying an additional 2,000 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Tower International by 322.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,092 shares of the auto parts company’s stock worth $486,000 after buying an additional 17,623 shares during the last quarter. Martingale Asset Management L P raised its stake in shares of Tower International by 2.0% during the first quarter. Martingale Asset Management L P now owns 61,641 shares of the auto parts company’s stock worth $1,297,000 after buying an additional 1,199 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Tower International by 55.5% during the first quarter. Wedge Capital Management L L P NC now owns 75,321 shares of the auto parts company’s stock worth $1,584,000 after buying an additional 26,890 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Tower International by 2.8% during the first quarter. Rhumbline Advisers now owns 28,910 shares of the auto parts company’s stock worth $608,000 after buying an additional 778 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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 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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