TPI Composites (NASDAQ:TPIC) Trading Up 13% on Analyst Upgrade

TPI Composites, Inc. (NASDAQ:TPICGet Rating) shares rose 13% on Thursday after StockNews.com upgraded the stock from a sell rating to a hold rating. The company traded as high as $18.42 and last traded at $18.13. Approximately 5,621 shares were traded during trading, a decline of 99% from the average daily volume of 612,572 shares. The stock had previously closed at $16.04.

Several other analysts have also recently commented on TPIC. UBS Group reaffirmed a “maintains” rating and issued a $16.00 target price (up from $14.00) on shares of TPI Composites in a research note on Thursday. Roth Capital raised shares of TPI Composites from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $16.00 in a research note on Friday, May 6th. Piper Sandler lowered their price objective on shares of TPI Composites from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, July 19th. Cowen boosted their price objective on shares of TPI Composites from $15.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Cowen boosted their price objective on shares of TPI Composites from $15.00 to $20.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.33.

Hedge Funds Weigh In On TPI Composites

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sustainable Insight Capital Management LLC lifted its holdings in shares of TPI Composites by 10.7% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 11,400 shares of the industrial products company’s stock valued at $160,000 after acquiring an additional 1,100 shares in the last quarter. Rhumbline Advisers lifted its holdings in TPI Composites by 3.3% in the 1st quarter. Rhumbline Advisers now owns 40,171 shares of the industrial products company’s stock worth $565,000 after buying an additional 1,275 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in TPI Composites by 3.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 45,675 shares of the industrial products company’s stock worth $571,000 after buying an additional 1,360 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in TPI Composites in the 1st quarter worth $28,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in TPI Composites by 12.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 19,830 shares of the industrial products company’s stock worth $248,000 after buying an additional 2,220 shares in the last quarter.

TPI Composites Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.40 and a current ratio of 1.45. The stock has a market cap of $700.08 million, a price-to-earnings ratio of -4.26 and a beta of 1.64. The business’s fifty day simple moving average is $13.56 and its 200 day simple moving average is $12.95.

TPI Composites (NASDAQ:TPICGet Rating) last issued its earnings results on Thursday, May 5th. The industrial products company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.23. The business had revenue of $384.90 million for the quarter, compared to analyst estimates of $392.92 million. TPI Composites had a negative net margin of 8.16% and a negative return on equity of 75.13%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) EPS. Research analysts predict that TPI Composites, Inc. will post -1.36 EPS for the current fiscal year.

About TPI Composites

(Get Rating)

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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