TPI Composites (NASDAQ:TPIC) Shares Up 5.6%

Shares of TPI Composites Inc (NASDAQ:TPIC) shot up 5.6% during trading on Thursday . The company traded as high as $23.98 and last traded at $23.70. 551,489 shares traded hands during mid-day trading, an increase of 48% from the average session volume of 373,039 shares. The stock had previously closed at $22.44.

A number of brokerages have recently commented on TPIC. BidaskClub cut TPI Composites from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Zacks Investment Research cut TPI Composites from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. ValuEngine cut TPI Composites from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised TPI Composites from a “neutral” rating to an “overweight” rating and set a $34.00 price target on the stock in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $36.72.

The company has a debt-to-equity ratio of 1.13, a current ratio of 1.33 and a quick ratio of 1.31. The stock has a market capitalization of $813.63 million, a P/E ratio of 290.50 and a beta of 1.42.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.02. TPI Composites had a negative net margin of 1.44% and a negative return on equity of 8.24%. The company had revenue of $299.78 million during the quarter, compared to analyst estimates of $300.16 million. As a group, equities analysts anticipate that TPI Composites Inc will post -0.06 EPS for the current year.

In related news, insider Thomas J. Castle sold 1,527 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $22.52, for a total value of $34,388.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven C. Lockard acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average price of $21.47 per share, with a total value of $107,350.00. Following the completion of the acquisition, the chief executive officer now owns 277,284 shares in the company, valued at $5,953,287.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 15,400 shares of company stock valued at $342,282. 20.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in TPIC. Oppenheimer Asset Management Inc. purchased a new position in TPI Composites in the 4th quarter worth approximately $60,000. Great West Life Assurance Co. Can purchased a new position in TPI Composites in the 4th quarter worth approximately $64,000. Legal & General Group Plc raised its holdings in TPI Composites by 28.6% in the 4th quarter. Legal & General Group Plc now owns 2,775 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 617 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in TPI Composites in the 4th quarter worth approximately $78,000. Finally, BNP Paribas Arbitrage SA raised its holdings in TPI Composites by 4,759.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,110 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 3,046 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

TRADEMARK VIOLATION WARNING: “TPI Composites (NASDAQ:TPIC) Shares Up 5.6%” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2019/06/15/tpi-composites-nasdaqtpic-shares-up-5-6.html.

TPI Composites Company Profile (NASDAQ:TPIC)

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.

Recommended Story: Trading Stocks – What are percentage gainers?

Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.