Northern Trust Corp grew its stake in TPI Composites Inc (NASDAQ:TPIC) by 121.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,195 shares of the industrial products company’s stock after purchasing an additional 70,370 shares during the period. Northern Trust Corp owned approximately 0.39% of TPI Composites worth $2,369,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Citigroup Inc. lifted its stake in shares of TPI Composites by 6,277.7% in the 2nd quarter. Citigroup Inc. now owns 10,013 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 9,856 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of TPI Composites in the 2nd quarter valued at approximately $266,000. Nationwide Fund Advisors lifted its stake in shares of TPI Composites by 85.8% during the 2nd quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 2,788 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of TPI Composites by 210.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 46,324 shares of the industrial products company’s stock worth $856,000 after acquiring an additional 31,397 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of TPI Composites by 22.0% during the 2nd quarter. Teachers Advisors LLC now owns 21,192 shares of the industrial products company’s stock worth $392,000 after acquiring an additional 3,823 shares during the last quarter. 35.12% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. J P Morgan Chase & Co raised TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 price target for the company in a research note on Thursday, November 30th. Zacks Investment Research downgraded TPI Composites from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. JMP Securities initiated coverage on TPI Composites in a report on Thursday, November 16th. They set an “outperform” rating and a $33.00 price objective on the stock. ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, Canaccord Genuity raised their price objective on TPI Composites from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $27.00.
TPI Composites Inc (NASDAQ:TPIC) traded down $0.21 during trading on Thursday, hitting $18.59. The stock had a trading volume of 386,626 shares, compared to its average volume of 187,157. TPI Composites Inc has a 52-week low of $14.58 and a 52-week high of $26.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 0.93. The firm has a market cap of $634.97, a PE ratio of 16.82 and a beta of -1.39.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.36. The company had revenue of $243.35 million during the quarter, compared to analysts’ expectations of $252.42 million. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. equities research analysts forecast that TPI Composites Inc will post 1.3 EPS for the current year.
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TPI Composites 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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