TPI Composites Inc (NASDAQ:TPIC) has been assigned a consensus rating of “Buy” from the twelve research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $36.56.
Several research analysts have recently weighed in on TPIC shares. TheStreet raised shares of TPI Composites from a “c” rating to a “b-” rating in a report on Monday, July 23rd. Canaccord Genuity boosted their price objective on shares of TPI Composites from $26.00 to $35.50 and gave the company a “buy” rating in a report on Wednesday, July 11th. Roth Capital set a $37.00 price objective on shares of TPI Composites and gave the company a “buy” rating in a report on Tuesday, July 10th. Cowen set a $35.00 price objective on shares of TPI Composites and gave the company a “buy” rating in a report on Wednesday, August 8th. Finally, Craig Hallum boosted their price objective on shares of TPI Composites from $33.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, July 26th.
In other TPI Composites news, Director Michael Lawrence Derosa sold 34,200 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $28.68, for a total transaction of $980,856.00. Following the completion of the sale, the director now directly owns 6,620 shares of the company’s stock, valued at $189,861.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven C. Lockard sold 51,795 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $27.97, for a total transaction of $1,448,706.15. Following the sale, the insider now directly owns 317,416 shares of the company’s stock, valued at $8,878,125.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,681,060 shares of company stock valued at $73,036,836. 58.20% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. First Quadrant L P CA increased its holdings in TPI Composites by 155.0% during the third quarter. First Quadrant L P CA now owns 4,852 shares of the industrial products company’s stock valued at $139,000 after buying an additional 2,949 shares during the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in TPI Composites during the second quarter valued at approximately $162,000. Citadel Advisors LLC purchased a new stake in TPI Composites during the second quarter valued at approximately $208,000. MetLife Investment Advisors LLC purchased a new stake in TPI Composites during the second quarter valued at approximately $214,000. Finally, Sei Investments Co. increased its holdings in TPI Composites by 40.3% during the first quarter. Sei Investments Co. now owns 7,992 shares of the industrial products company’s stock valued at $179,000 after buying an additional 2,294 shares during the last quarter. 51.05% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ TPIC traded down $0.12 during midday trading on Thursday, hitting $26.05. The stock had a trading volume of 270,472 shares, compared to its average volume of 356,847. The company has a market cap of $896.46 million, a PE ratio of 20.84 and a beta of 0.13. TPI Composites has a 52 week low of $16.35 and a 52 week high of $32.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.65.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share 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 company had revenue of $230.61 million for the quarter, compared to analysts’ expectations of $240.29 million. On average, analysts forecast that TPI Composites will post 0.25 earnings per share for the current fiscal year.
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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