Triodos Investment Management BV boosted its holdings in shares of TPI Composites Inc (NASDAQ:TPIC) by 75.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,000 shares of the industrial products company’s stock after acquiring an additional 150,000 shares during the quarter. TPI Composites accounts for about 1.7% of Triodos Investment Management BV’s portfolio, making the stock its 22nd largest position. Triodos Investment Management BV owned 1.00% of TPI Composites worth $6,563,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. TCI Wealth Advisors Inc. purchased a new stake in TPI Composites during the second quarter worth about $25,000. Bank of Montreal Can bought a new position in TPI Composites during the second quarter worth about $59,000. Cubist Systematic Strategies LLC bought a new position in TPI Composites during the second quarter worth about $63,000. Smithfield Trust Co. boosted its position in TPI Composites by 35.4% during the third quarter. Smithfield Trust Co. now owns 5,003 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 1,309 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in TPI Composites during the second quarter worth about $135,000. 89.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on TPIC. Roth Capital lowered shares of TPI Composites from a “buy” rating to a “neutral” rating in a research report on Friday. BidaskClub upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. UBS Group cut their target price on shares of TPI Composites from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, October 11th. JMP Securities cut their target price on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating for the company in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of TPI Composites from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $26.00.
In related news, President William E. Siwek purchased 2,823 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $17.73 per share, for a total transaction of $50,051.79. Following the completion of the acquisition, the president now directly owns 67,676 shares in the company, valued at approximately $1,199,895.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 20.30% of the company’s stock.
Shares of TPIC stock traded up $0.14 during trading hours on Friday, reaching $16.26. The stock had a trading volume of 1,600,400 shares, compared to its average volume of 456,181. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11. TPI Composites Inc has a 12 month low of $15.34 and a 12 month high of $32.74. The stock’s fifty day simple moving average is $19.40 and its 200 day simple moving average is $22.04. The firm has a market capitalization of $761.78 million, a PE ratio of 203.25 and a beta of 1.73.
TPI Composites (NASDAQ:TPIC) last issued its earnings results on Wednesday, November 6th. The industrial products company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.19). TPI Composites had a negative return on equity of 5.59% and a negative net margin of 0.82%. The firm had revenue of $383.84 million during the quarter, compared to analysts’ expectations of $400.60 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up 50.5% compared to the same quarter last year. As a group, equities research analysts anticipate that TPI Composites Inc will post 0.03 EPS for the current fiscal year.
TPI Composites Company Profile
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.
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