Seaport Global Initiates Coverage on Tower International Inc to Buy

Seaport Global Initiates Coverage on Tower International Inc(NYSE:TOWR). The shares have been rated Buy. The rating by Seaport Global was issued on Aug 9, 2016.

Tower International Inc (TOWR) made into the market gainers list on Wednesdays trading session with the shares advancing 0.09% or 0.02 points. Due to strong positive momentum, the stock ended at $23.01, which is also near the day’s high of $23.04. The stock began the session at $22.85 and the volume stood at 1,20,447 shares. The 52-week high of the shares is $31.41 and the 52 week low is $18.75. The company has a current market capitalization of $484 M and it has 2,10,52,798 shares in outstanding.

Tower International Inc(TOWR) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $505.13M. Analysts had an estimated revenue of $504.70M. Earnings per share were $0.81. Analysts had estimated an EPS of $0.69.

Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, James C Gouin (CFO) purchased 2,500 shares at $19.66 per share price.Also, 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.

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