TPI Composites (NASDAQ:TPIC) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of TPI Composites from a “sell” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research report on Tuesday, January 23rd. Craig Hallum started coverage on shares of TPI Composites in a research note on Tuesday, January 16th. They set a “buy” rating and a $33.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a research note on Thursday, November 30th. JMP Securities started coverage on shares of TPI Composites in a research note on Thursday, November 16th. They set an “outperform” rating and a $33.00 price objective for the company. Finally, ValuEngine upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. One 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 given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.38.
Shares of TPI Composites (TPIC) traded up $0.61 on Thursday, hitting $18.84. 183,102 shares of the stock traded hands, compared to its average volume of 156,857. TPI Composites has a 52-week low of $15.26 and a 52-week high of $26.00. The stock has a market cap of $640.75, a PE ratio of 18.47 and a beta of -1.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 0.93.
Institutional investors have recently modified their holdings of the business. Nationwide Fund Advisors increased its stake in TPI Composites by 85.8% during 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. First Quadrant L P CA acquired a new position in TPI Composites during the 3rd quarter valued at approximately $126,000. Advisor Group Inc. increased its stake in TPI Composites by 242.5% during the 2nd quarter. Advisor Group Inc. now owns 8,333 shares of the industrial products company’s stock valued at $154,000 after purchasing an additional 5,900 shares in the last quarter. Royal Bank of Canada increased its stake in TPI Composites by 70.2% during the 2nd quarter. Royal Bank of Canada now owns 9,338 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 3,852 shares in the last quarter. Finally, Citigroup Inc. increased its stake in TPI Composites by 6,277.7% during the 2nd quarter. Citigroup Inc. now owns 10,013 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 9,856 shares in the last quarter. Institutional investors and hedge funds own 35.46% 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.
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