TPI Composites (NASDAQ:TPIC) major shareholder Investors L. P. Angeleno II sold 50,426 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $22.91, for a total value of $1,155,259.66. Following the transaction, the insider now directly owns 2,880 shares of the company’s stock, valued at $65,980.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
TPIC traded down $0.25 on Friday, reaching $22.50. The company’s stock had a trading volume of 113,832 shares, compared to its average volume of 280,596. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $775.71, a price-to-earnings ratio of 18.00 and a beta of -0.94. TPI Composites has a fifty-two week low of $15.26 and a fifty-two week high of $26.00.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Thursday, March 8th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.03). TPI Composites had a net margin of 4.70% and a return on equity of 31.56%. The business had revenue of $247.10 million during the quarter, compared to analyst estimates of $249.00 million. During the same period last year, the company earned ($0.07) earnings per share. The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. equities analysts anticipate that TPI Composites will post 0.38 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. lifted its stake in TPI Composites by 30.4% in the third quarter. Sei Investments Co. now owns 10,089 shares of the industrial products company’s stock valued at $225,000 after buying an additional 2,355 shares during the last quarter. Guinness Asset Management Ltd lifted its stake in TPI Composites by 15.8% in the fourth quarter. Guinness Asset Management Ltd now owns 19,800 shares of the industrial products company’s stock valued at $405,000 after buying an additional 2,700 shares during the last quarter. Nationwide Fund Advisors lifted its stake in TPI Composites by 85.8% in the second quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock valued at $112,000 after buying an additional 2,788 shares during the last quarter. Wells Fargo & Company MN lifted its stake in TPI Composites by 36.9% in the third quarter. Wells Fargo & Company MN now owns 10,607 shares of the industrial products company’s stock valued at $237,000 after buying an additional 2,857 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in TPI Composites by 26.2% in the third quarter. Citadel Advisors LLC now owns 13,976 shares of the industrial products company’s stock valued at $312,000 after buying an additional 2,903 shares during the last quarter. Institutional investors own 38.65% of the company’s stock.
TPIC has been the subject of a number of analyst reports. BidaskClub downgraded TPI Composites from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Zacks Investment Research raised TPI Composites from a “sell” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, January 23rd. Craig Hallum started coverage on TPI Composites in a report on Tuesday, January 16th. They issued a “buy” rating and a $33.00 price target for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $26.00 price target on shares of TPI Composites in a report on Tuesday, March 6th. Finally, ValuEngine downgraded TPI Composites from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.89.
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TPI Composites Company Profile
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.
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