TPI Composites, Inc. (NASDAQ:TPIC) Given Consensus Rating of “Buy” by Analysts
Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received an average rating of “Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $23.17.
TPIC has been the subject of several research reports. Roth Capital set a $23.00 price target on shares of TPI Composites and gave the company a “buy” rating in a research report on Saturday, May 27th. Barclays PLC set a $23.00 price target on shares of TPI Composites and gave the company a “buy” rating in a research report on Monday, May 8th. Cowen and Company set a $26.00 price target on shares of TPI Composites and gave the company a “buy” rating in a research report on Friday. Finally, Zacks Investment Research lowered shares of TPI Composites from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th.
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TPI Composites (NASDAQ:TPIC) traded up 0.26% during trading on Tuesday, hitting $19.28. 11,529 shares of the stock traded hands. The company has a market cap of $632.36 million and a P/E ratio of 38.56. TPI Composites has a 52-week low of $13.27 and a 52-week high of $23.30. The firm has a 50-day moving average price of $18.43 and a 200 day moving average price of $18.14.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. TPI Composites had a net margin of 2.03% and a return on equity of 51.28%. The business had revenue of $191.60 million for the quarter, compared to analysts’ expectations of $213.26 million. During the same period in the previous year, the company earned ($0.16) EPS. TPI Composites’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts expect that TPI Composites will post $0.63 EPS for the current year.
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 stock was bought at an average cost of $16.82 per share, with a total value of $74,008.00. Following the acquisition, the director now owns 4,400 shares of the company’s stock, valued at approximately $74,008. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul G. Giovacchini sold 1,245,348 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $16.35, for a total transaction of $20,361,439.80. The disclosure for this sale can be found here. Insiders sold a total of 2,513,253 shares of company stock valued at $41,091,687 over the last three months. 73.70% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in TPIC. Handelsbanken Fonder AB raised its stake in TPI Composites by 213.7% in the second quarter. Handelsbanken Fonder AB now owns 664,172 shares of the industrial products company’s stock valued at $12,274,000 after buying an additional 452,453 shares in the last quarter. Bank of New York Mellon Corp raised its stake in TPI Composites by 1,755.3% in the second quarter. Bank of New York Mellon Corp now owns 361,690 shares of the industrial products company’s stock valued at $6,684,000 after buying an additional 342,195 shares in the last quarter. 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 in the last quarter. Marshall Wace North America L.P. purchased a new stake in TPI Composites during the second quarter valued at about $3,081,000. Finally, Schwab Charles Investment Management Inc. raised its stake in TPI Composites by 558.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 162,787 shares of the industrial products company’s stock valued at $3,009,000 after buying an additional 138,053 shares in the last quarter. 25.29% of the stock is owned by institutional investors.
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.
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