TPI Composites, Inc. (TPIC) Given Consensus Recommendation of “Buy” by Analysts
Shares of TPI Composites, Inc. (NASDAQ:TPIC) have been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $22.33.
Several equities research analysts have issued reports on TPIC shares. Canaccord Genuity restated a “buy” rating on shares of TPI Composites in a research report on Monday, March 20th. Barclays PLC set a $23.00 target price on TPI Composites and gave the stock a “buy” rating in a research report on Monday, May 8th. Roth Capital set a $23.00 target price on TPI Composites and gave the company a “buy” rating in a research note on Saturday, May 27th. Finally, Zacks Investment Research raised TPI Composites from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th.
In other news, Director Jack A. Henry bought 4,400 shares of TPI Composites stock in a transaction that occurred on Wednesday, May 31st. The shares were acquired at an average price of $16.82 per share, with a total value of $74,008.00. Following the completion of the purchase, the director now directly owns 4,400 shares in the company, valued at $74,008. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul G. Giovacchini sold 1,245,348 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $16.35, for a total value of $20,361,439.80. The disclosure for this sale can be found here. In the last three months, insiders sold 2,513,253 shares of company stock worth $41,091,687. 73.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPIC. FMR LLC boosted its position in TPI Composites by 42.7% in the fourth quarter. FMR LLC now owns 1,091,187 shares of the industrial products company’s stock worth $17,503,000 after buying an additional 326,357 shares in the last quarter. Vanguard Group Inc. raised its stake in TPI Composites by 4.6% in the first quarter. Vanguard Group Inc. now owns 269,909 shares of the industrial products company’s stock valued at $5,131,000 after buying an additional 11,815 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in TPI Composites during the first quarter valued at about $4,025,000. Morgan Stanley raised its stake in TPI Composites by 209.6% in the first quarter. Morgan Stanley now owns 183,555 shares of the industrial products company’s stock valued at $3,489,000 after buying an additional 124,267 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in TPI Composites by 50.9% in the first quarter. Geode Capital Management LLC now owns 94,939 shares of the industrial products company’s stock valued at $1,804,000 after buying an additional 32,038 shares during the last quarter. 23.65% of the stock is currently owned by institutional investors and hedge funds.
TPI Composites (TPIC) traded up 0.51% during trading on Monday, reaching $17.59. The company’s stock had a trading volume of 24,623 shares. The stock’s 50 day moving average is $17.10 and its 200 day moving average is $17.48. TPI Composites has a 12 month low of $11.31 and a 12 month high of $23.30. The company has a market cap of $576.93 million and a price-to-earnings ratio of 35.18.
TPI Composites (NASDAQ:TPIC) last posted its earnings results on Monday, May 8th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.01. The company had revenue of $191.60 million for the quarter, compared to analysts’ expectations of $213.26 million. TPI Composites had a return on equity of 51.28% and a net margin of 2.03%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) EPS. On average, equities analysts expect that TPI Composites will post $0.62 EPS for the current fiscal year.
About TPI Composites
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. 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 in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
Receive News & Ratings for TPI Composites Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites Inc. and related companies with MarketBeat.com's FREE daily email newsletter.