TPI Composites Inc (TPIC) Cut to Strong Sell at Zacks Investment Research
TPI Composites Inc (NASDAQ:TPIC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “TPI Composites, Inc. is the manufacturer of composite wind blades for the wind energy market. It operates primarily in the U.S., Mexico, China and Turkey. TPI Composites, Inc. is headquartered in Scottsdale, Arizona. “
A number of other research firms have also recently commented on TPIC. Morgan Stanley restated a “buy” rating and issued a $25.00 price objective on shares of TPI Composites in a research report on Tuesday, September 27th. Cowen and Company initiated coverage on TPI Composites in a research report on Tuesday, August 16th. They issued an “outperform” rating and a $21.00 price objective for the company. Canaccord Genuity initiated coverage on TPI Composites in a research report on Tuesday, August 16th. They issued a “buy” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on TPI Composites in a research report on Tuesday, August 16th. They issued an “overweight” rating and a $22.00 price objective for the company. Finally, Raymond James Financial Inc. initiated coverage on TPI Composites in a research report on Tuesday, August 16th. They issued an “outperform” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $22.20.
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Shares of TPI Composites (NASDAQ:TPIC) opened at 17.72 on Wednesday. TPI Composites has a 52-week low of $11.31 and a 52-week high of $23.30. The stock’s 50 day moving average price is $19.98 and its 200 day moving average price is $18.39. The company has a market capitalization of $581.20 million and a P/E ratio of 5.76.
In other news, Director James Alton Hughes purchased 13,636 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was purchased at an average cost of $11.00 per share, for a total transaction of $149,996.00. Following the completion of the transaction, the director now owns 13,636 shares of the company’s stock, valued at $149,996. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Steven G. Fishbach purchased 4,546 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The shares were purchased at an average price of $11.00 per share, with a total value of $50,006.00. Following the completion of the transaction, the general counsel now directly owns 4,546 shares of the company’s stock, valued at approximately $50,006. The disclosure for this purchase can be found here.
About TPI Composites
TPI Composites, Inc (TPI) is a United States-based company engaged in manufacturing wind blades, and related precision molding and assembly systems. The Company operates through four geographic operating segments: the United States, Asia, Mexico and Europe, the Middle East and Africa (EMEA). The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades, and the manufacturing of composite solutions for the transportation industry.
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