TPI Composites (TPIC) Downgraded by ValuEngine

TPI Composites (NASDAQ:TPIC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other analysts also recently issued reports on TPIC. BidaskClub downgraded TPI Composites from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research upgraded TPI Composites from a “sell” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Tuesday, January 23rd. Canaccord Genuity increased their price target on TPI Composites from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, November 6th. Craig Hallum began coverage on TPI Composites in a report on Tuesday, January 16th. They issued a “buy” rating and a $33.00 price target for the company. Finally, JPMorgan Chase & Co. upgraded TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 price target for the company in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. TPI Composites has a consensus rating of “Buy” and an average target price of $27.38.

Shares of TPI Composites (NASDAQ TPIC) traded down $0.33 during midday trading on Thursday, reaching $18.23. The company had a trading volume of 190,280 shares, compared to its average volume of 152,470. TPI Composites has a 52-week low of $15.26 and a 52-week high of $26.00. The firm has a market cap of $624.08, a P/E ratio of 17.87 and a beta of -1.34. 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 announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.36. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. The firm had revenue of $243.35 million during the quarter, compared to the consensus estimate of $252.42 million. During the same period in the prior year, the firm earned $0.08 EPS. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. equities analysts predict that TPI Composites will post 1.3 earnings per share for the current fiscal year.

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

A number of large investors have recently bought and sold shares of the business. General Electric Co. purchased a new position in TPI Composites in the 3rd quarter valued at about $60,438,000. FMR LLC boosted its position in TPI Composites by 45.2% in the 2nd quarter. FMR LLC now owns 1,556,068 shares of the industrial products company’s stock valued at $28,756,000 after buying an additional 484,681 shares during the last quarter. Handelsbanken Fonder AB boosted its position in TPI Composites by 213.7% in the 2nd 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 during the last quarter. Vanguard Group Inc. boosted its position in TPI Composites by 79.9% in the 2nd quarter. Vanguard Group Inc. now owns 485,589 shares of the industrial products company’s stock valued at $8,973,000 after buying an additional 215,680 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in TPI Composites by 14.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 413,837 shares of the industrial products company’s stock valued at $9,245,000 after buying an additional 52,147 shares during the last quarter. 35.46% of the stock is owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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