TPI Composites Inc (NASDAQ:TPIC) CEO Steven C. Lockard sold 51,795 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $25.61, for a total transaction of $1,326,469.95. Following the transaction, the chief executive officer now directly owns 317,416 shares in the company, valued at approximately $8,129,023.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
NASDAQ TPIC traded down $0.12 during trading hours on Friday, reaching $26.05. The company’s stock had a trading volume of 238,315 shares, compared to its average volume of 290,781. The company has a quick ratio of 1.63, a current ratio of 1.65 and a debt-to-equity ratio of 0.39. TPI Composites Inc has a 52 week low of $16.35 and a 52 week high of $32.22. The stock has a market capitalization of $872.01 million, a P/E ratio of 20.84 and a beta of -0.89.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.09). TPI Composites had a net margin of 3.17% and a return on equity of 17.01%. The firm had revenue of $230.61 million during the quarter, compared to analyst estimates of $240.29 million. As a group, equities research analysts expect that TPI Composites Inc will post 0.25 earnings per share for the current year.
Several large investors have recently made changes to their positions in TPIC. Hood River Capital Management LLC acquired a new stake in shares of TPI Composites in the second quarter valued at approximately $20,767,000. Trigran Investments Inc. increased its stake in shares of TPI Composites by 130.7% in the second quarter. Trigran Investments Inc. now owns 848,543 shares of the industrial products company’s stock valued at $24,811,000 after purchasing an additional 480,751 shares during the period. BlackRock Inc. increased its stake in shares of TPI Composites by 38.7% in the second quarter. BlackRock Inc. now owns 959,762 shares of the industrial products company’s stock valued at $28,063,000 after purchasing an additional 267,717 shares during the period. Russell Investments Group Ltd. increased its stake in shares of TPI Composites by 771.6% in the second quarter. Russell Investments Group Ltd. now owns 243,499 shares of the industrial products company’s stock valued at $7,122,000 after purchasing an additional 215,563 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of TPI Composites by 12.1% in the second quarter. Handelsbanken Fonder AB now owns 1,921,151 shares of the industrial products company’s stock valued at $56,174,000 after purchasing an additional 207,000 shares during the period. Institutional investors own 51.05% of the company’s stock.
Several brokerages have recently commented on TPIC. JMP Securities increased their price target on shares of TPI Composites from $36.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 8th. BidaskClub raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Morgan Stanley increased their price target on shares of TPI Composites from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Canaccord Genuity raised their target price on shares of TPI Composites from $26.00 to $35.50 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Finally, Roth Capital set a $37.00 target price on shares of TPI Composites and gave the stock a “buy” rating in a report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $35.06.
About TPI Composites
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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