TPI Composites, Inc. (NASDAQ:TPIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.

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 equities analysts also recently weighed in on the stock. Roth Capital increased their price target on shares of TPI Composites from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays PLC set a $23.00 price target on shares of TPI Composites and gave the stock a “buy” rating in a research note on Monday, May 8th. Finally, Cowen and Company set a $26.00 price target on shares of TPI Composites and gave the stock a “buy” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $24.14.

TPI Composites (NASDAQ TPIC) traded down 3.35% during mid-day trading on Friday, reaching $21.07. 381,063 shares of the company traded hands. The stock has a 50-day moving average of $18.98 and a 200 day moving average of $18.26. The stock has a market capitalization of $691.07 million and a PE ratio of 39.53. TPI Composites has a 52-week low of $13.27 and a 52-week high of $23.30.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.27. The business had revenue of $248.19 million for the quarter, compared to the consensus estimate of $225.36 million. TPI Composites had a net margin of 2.18% and a return on equity of 18.24%. The business’s revenue was up 27.8% compared to the same quarter last year. Equities research analysts expect that TPI Composites will post $0.91 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “TPI Composites, Inc. (NASDAQ:TPIC) Stock Rating Upgraded by Zacks Investment Research” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/08/13/tpi-composites-inc-nasdaqtpic-stock-rating-upgraded-by-zacks-investment-research.html.

In other TPI Composites news, Director Jack A. Henry bought 4,400 shares of the business’s stock in a transaction dated 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 purchase, the director now owns 4,400 shares in the company, valued at approximately $74,008. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Element Partners Ii Intrafund sold 1,132,572 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $16.35, for a total transaction of $18,517,552.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,513,253 shares of company stock worth $41,091,687. 73.70% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of TPI Composites by 45.2% in the second quarter. FMR LLC now owns 1,556,068 shares of the industrial products company’s stock worth $28,756,000 after buying an additional 484,681 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of TPI Composites by 213.7% in the second quarter. Handelsbanken Fonder AB now owns 664,172 shares of the industrial products company’s stock worth $12,274,000 after buying an additional 452,453 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 worth $6,684,000 after buying an additional 342,195 shares in the last quarter. Vanguard Group Inc. increased its position in shares of TPI Composites by 79.9% in the second quarter. Vanguard Group Inc. now owns 485,589 shares of the industrial products company’s stock worth $8,973,000 after buying an additional 215,680 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of TPI Composites during the second quarter worth approximately $3,081,000. 25.29% of the stock is currently owned by institutional investors and hedge funds.

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.

Get a free copy of the Zacks research report on TPI Composites (TPIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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.