BidaskClub upgraded shares of TPI Composites (NASDAQ:TPIC) from a sell rating to a hold rating in a research report sent to investors on Friday, February 16th.
TPIC has been the subject of several other research reports. ValuEngine raised shares of TPI Composites from a hold rating to a buy rating in a research report on Thursday, November 9th. Zacks Investment Research downgraded shares of TPI Composites from a buy rating to a hold rating in a research report on Wednesday, November 22nd. Craig Hallum assumed coverage on shares of TPI Composites in a research report on Tuesday, January 16th. They set a buy rating and a $33.00 price objective for the company. JMP Securities assumed coverage on shares of TPI Composites in a research report on Thursday, November 16th. They set an outperform rating and a $33.00 price objective for the company. Finally, Canaccord Genuity raised their price objective on shares of TPI Composites from $23.00 to $26.00 and gave the stock a buy rating in a research report on Monday, November 6th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $27.38.
TPI Composites (NASDAQ TPIC) traded down $0.22 during trading hours on Friday, reaching $22.67. 307,019 shares of the company’s stock were exchanged, compared to its average volume of 170,482. The firm has a market cap of $767.44, a P/E ratio of 17.99 and a beta of -0.62. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 0.93. TPI Composites has a twelve month low of $15.26 and a twelve month high of $26.00.
TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, March 8th. The industrial products company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $247.10 million for the quarter, compared to analyst estimates of $249.00 million. TPI Composites had a net margin of 4.70% and a return on equity of 31.56%. The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. research analysts expect that TPI Composites will post 0.38 EPS for the current fiscal year.
In related news, major shareholder Investors L. P. Angeleno II sold 32,388 shares of TPI Composites stock in a transaction on Friday, December 15th. The shares were sold at an average price of $18.79, for a total value of $608,570.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel G. Weiss sold 51,000 shares of TPI Composites stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $19.14, for a total transaction of $976,140.00. Following the completion of the sale, the director now directly owns 2,880 shares of the company’s stock, valued at approximately $55,123.20. The disclosure for this sale can be found here. Company insiders own 73.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its position in TPI Composites by 40.4% in the 4th quarter. Handelsbanken Fonder AB now owns 1,173,958 shares of the industrial products company’s stock valued at $24,019,000 after purchasing an additional 337,786 shares during the period. Gotham Asset Management LLC acquired a new stake in TPI Composites in the 4th quarter valued at $445,000. BB&T Securities LLC acquired a new stake in TPI Composites in the 4th quarter valued at $286,000. Macquarie Group Ltd. grew its position in TPI Composites by 79.0% in the 4th quarter. Macquarie Group Ltd. now owns 43,254 shares of the industrial products company’s stock valued at $885,000 after purchasing an additional 19,094 shares during the period. Finally, Millennium Management LLC grew its position in TPI Composites by 26.2% in the 4th quarter. Millennium Management LLC now owns 616,164 shares of the industrial products company’s stock valued at $12,607,000 after purchasing an additional 128,081 shares during the period. 38.68% of the stock is owned by institutional investors and hedge funds.
About TPI Composites
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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