Rice Hall James & Associates LLC raised its holdings in TPI Composites Inc (NASDAQ:TPIC) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,803 shares of the industrial products company’s stock after acquiring an additional 9,095 shares during the period. Rice Hall James & Associates LLC’s holdings in TPI Composites were worth $2,492,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. TCI Wealth Advisors Inc. acquired a new stake in shares of TPI Composites during the 2nd quarter worth approximately $25,000. Oppenheimer Asset Management Inc. increased its holdings in shares of TPI Composites by 13.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,758 shares of the industrial products company’s stock worth $79,000 after buying an additional 328 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of TPI Composites by 28.6% during the 4th quarter. Legal & General Group Plc now owns 2,775 shares of the industrial products company’s stock worth $68,000 after buying an additional 617 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of TPI Composites by 4,759.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,110 shares of the industrial products company’s stock worth $89,000 after buying an additional 3,046 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of TPI Composites during the 1st quarter worth approximately $115,000. Institutional investors own 82.40% of the company’s stock.
Shares of TPIC traded down $0.37 during midday trading on Thursday, reaching $17.75. The stock had a trading volume of 7,875 shares, compared to its average volume of 510,075. The business has a fifty day moving average price of $24.52. TPI Composites Inc has a 1-year low of $17.89 and a 1-year high of $32.74. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.27. The firm has a market capitalization of $660.89 million, a P/E ratio of 222.38 and a beta of 1.53.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.33. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. The firm had revenue of $330.77 million for the quarter, compared to analyst estimates of $330.90 million. During the same period last year, the business earned ($0.12) EPS. TPI Composites’s revenue for the quarter was up 43.4% compared to the same quarter last year. Research analysts expect that TPI Composites Inc will post 0.04 earnings per share for the current year.
A number of analysts have recently issued reports on the stock. Canaccord Genuity cut their price target on shares of TPI Composites from $28.00 to $25.00 and set a “buy” rating for the company in a report on Friday, August 9th. Roth Capital lowered their price objective on shares of TPI Composites from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Craig Hallum decreased their price target on shares of TPI Composites from $37.00 to $31.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. ValuEngine cut shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of TPI Composites from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.00.
In other TPI Composites news, Director Paul G. Giovacchini acquired 5,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $22.55 per share, for a total transaction of $112,750.00. Following the completion of the purchase, the director now owns 15,017 shares in the company, valued at approximately $338,633.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas J. Castle sold 1,527 shares of TPI Composites stock in a transaction on Monday, June 10th. The shares were sold at an average price of $22.52, for a total transaction of $34,388.04. The disclosure for this sale can be found here. Insiders have purchased a total of 12,470 shares of company stock worth $270,570 over the last quarter. 20.30% of the stock is owned by company insiders.
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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