Daniel G. Weiss Sells 51,000 Shares of TPI Composites Inc (TPIC) Stock

TPI Composites Inc (NASDAQ:TPIC) Director Daniel G. Weiss sold 51,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $19.14, for a total transaction of $976,140.00. Following the transaction, the director now owns 2,880 shares in the company, valued at $55,123.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of TPI Composites Inc (NASDAQ TPIC) traded up $0.34 during mid-day trading on Thursday, reaching $20.70. 149,234 shares of the company traded hands, compared to its average volume of 122,554. The company has a quick ratio of 0.93, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $691.42 and a P/E ratio of 20.10. TPI Composites Inc has a 12-month low of $15.26 and a 12-month high of $26.00.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, beating the 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS. sell-side analysts predict that TPI Composites Inc will post 1.3 EPS for the current year.

A number of research firms recently weighed in on TPIC. Zacks Investment Research lowered shares of TPI Composites from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub downgraded TPI Composites from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Canaccord Genuity raised their target price on TPI Composites from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, November 6th. JPMorgan Chase & Co. raised TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 target price for the company in a report on Thursday, November 30th. Finally, JMP Securities began coverage on TPI Composites in a research note on Thursday, November 16th. They set an “outperform” rating and a $33.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $27.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position in shares of TPI Composites by 3.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 24,243 shares of the industrial products company’s stock valued at $448,000 after purchasing an additional 879 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of TPI Composites by 5.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 24,734 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 1,368 shares in the last quarter. Sei Investments Co. raised its position in shares of TPI Composites by 30.4% during the 3rd quarter. Sei Investments Co. now owns 10,089 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 2,355 shares in the last quarter. Nationwide Fund Advisors raised its position 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 valued at $112,000 after acquiring an additional 2,788 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of TPI Composites by 36.9% during the 3rd quarter. Wells Fargo & Company MN now owns 10,607 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 2,857 shares in the last quarter. Hedge funds and other institutional investors own 33.89% of the company’s stock.

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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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