TPI Composites (TPIC) Lowered to Hold at BidaskClub

TPI Composites (NASDAQ:TPIC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other brokerages have also weighed in on TPIC. Zacks Investment Research raised TPI Composites from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, October 11th. JPMorgan Chase & Co. raised TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 price target on the stock in a research note on Thursday, November 30th. Canaccord Genuity increased their price target on TPI Composites from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. JMP Securities started coverage on TPI Composites in a research note on Thursday, November 16th. They set an “outperform” rating and a $33.00 price target on the stock. Finally, ValuEngine raised TPI Composites from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. TPI Composites presently has an average rating of “Buy” and a consensus price target of $27.00.

Shares of TPI Composites (NASDAQ TPIC) traded down $0.14 during trading on Friday, hitting $20.45. The company’s stock had a trading volume of 126,376 shares, compared to its average volume of 197,457. TPI Composites has a one year low of $15.26 and a one year high of $26.00. The stock has a market cap of $700.27, a price-to-earnings ratio of 20.05 and a beta of -1.43. The company has a current ratio of 1.32, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.36. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. The company had revenue of $243.35 million for the quarter, compared to analyst estimates of $252.42 million. During the same quarter in the prior year, the company posted $0.08 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. analysts forecast that TPI Composites will post 1.3 EPS for the current fiscal year.

In related news, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $18.79, for a total value of $608,570.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel G. Weiss sold 51,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $19.14, for a total value of $976,140.00. Following the completion of the transaction, the director now directly owns 2,880 shares in the company, valued at $55,123.20. The disclosure for this sale can be found here. Company insiders own 73.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in TPI Composites by 3.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 24,243 shares of the industrial products company’s stock valued at $448,000 after purchasing an additional 879 shares in the last quarter. Sei Investments Co. increased its holdings in TPI Composites by 30.4% in the 3rd quarter. Sei Investments Co. now owns 10,089 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 2,355 shares in the last quarter. Nationwide Fund Advisors increased its holdings in TPI Composites by 85.8% in the 2nd quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 2,788 shares in the last quarter. Wells Fargo & Company MN increased its holdings in TPI Composites by 36.9% in the 3rd quarter. Wells Fargo & Company MN now owns 10,607 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 2,857 shares in the last quarter. Finally, Citadel Advisors LLC increased its holdings in TPI Composites by 26.2% in the 3rd quarter. Citadel Advisors LLC now owns 13,976 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 2,903 shares in the last quarter. Hedge funds and other institutional investors own 33.89% of the company’s stock.

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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.

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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