Northern Trust Corp raised its position in shares of TPI Composites Inc (NASDAQ:TPIC) by 121.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 128,195 shares of the industrial products company’s stock after buying an additional 70,370 shares during the quarter. Northern Trust Corp owned about 0.39% of TPI Composites worth $2,369,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Nationwide Fund Advisors raised its position in shares of TPI Composites by 85.8% in the 2nd quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 2,788 shares during the last quarter. Sei Investments Co. increased its holdings in TPI Composites by 916.3% in the 2nd quarter. Sei Investments Co. now owns 7,734 shares of the industrial products company’s stock worth $143,000 after buying an additional 6,973 shares during the period. Citigroup Inc. increased its holdings in TPI Composites by 6,277.7% in the 2nd quarter. Citigroup Inc. now owns 10,013 shares of the industrial products company’s stock worth $185,000 after buying an additional 9,856 shares during the period. JPMorgan Chase & Co. acquired a new position in TPI Composites in the 1st quarter worth approximately $205,000. Finally, Rhumbline Advisers acquired a new position in TPI Composites in the 2nd quarter worth approximately $206,000. 35.16% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on TPIC. J P Morgan Chase & Co downgraded shares of TPI Composites from an “overweight” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Friday, August 11th. Zacks Investment Research upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Canaccord Genuity increased their price target on shares of TPI Composites from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, November 6th. JMP Securities began coverage on shares of TPI Composites in a report on Thursday, November 16th. They issued an “outperform” rating and a $33.00 price target on the stock. Finally, ValuEngine upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $27.00.
Shares of TPI Composites Inc (NASDAQ TPIC) opened at $17.69 on Friday. The company has a market cap of $588.03, a P/E ratio of 15.58 and a beta of -1.39. TPI Composites Inc has a one year low of $14.13 and a one year high of $26.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 1.32.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.36. TPI Composites had a net margin of 4.09% and a return on equity of 30.80%. The business had revenue of $243.35 million for the quarter, compared to analysts’ expectations of $252.42 million. During the same quarter last year, the company earned $0.08 EPS. The business’s revenue was up 22.3% on a year-over-year basis. research analysts forecast that TPI Composites Inc will post 1.3 earnings per share for the current fiscal year.
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TPI Composites Company Profile
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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