Tower International Inc (TOWR) was Initiated by Seaport Global Securities to “Buy”. Seaport Global Securities advised their investors in a research report released on Aug 9, 2016.
On the company’s financial health, Tower International Inc reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.69. The company had revenue of $505.10 million for the quarter, compared to analysts expectations of $504.83 million. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.
Tower International Inc closed down -0.13 points or -0.58% at $22.13 with 1,92,631 shares getting traded on Monday. Post opening the session at $22.26, the shares hit an intraday low of $21.95 and an intraday high of $22.545 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 30, 2016, James C Gouin (CFO) purchased 2,500 shares at $19.66 per share price. According to the SEC, on Jun 30, 2016, Nicholas D Chabraja (director) purchased 4,000 shares at $19.42 per share price. On Jun 30, 2016, Thomas K Brown (director) purchased 6,390 shares at $19.70 per share price, according to the Form-4 filing with the securities and exchange commission.
Tower International Inc. is a global manufacturer of engineered automotive structural metal components and assemblies serving automotive original equipment manufacturers (OEMs). The Company operates in two segments: the Americas and International. The International segment consists of Europe and Asia and the Americas segment consists of North and South America. The Company offers its automotive customers a product portfolio supplying body-structure stampings frame and other chassis structures and complex welded assemblies for small and large cars crossovers pickups and sport utility vehicles (SUVs). The Company’s products are manufactured at 27 facilities located in North America Europe Brazil and China. The Company supports its manufacturing operations through seven engineering and sales locations around the world. The Company produces a range of structural components and assemblies.