TPI Composites (TPIC) Stock Rating Upgraded by Zacks Investment Research

TPI Composites (NASDAQ:TPIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “TPI Composites, Inc. is the manufacturer of composite wind blades for the wind energy market. It operates primarily in the U.S., Mexico, China and Turkey. TPI Composites, Inc. is headquartered in Scottsdale, Arizona. “

Several other research firms also recently commented on TPIC. UBS initiated coverage on shares of TPI Composites in a research note on Thursday, March 15th. They set a “neutral” rating and a $23.00 price target on the stock. ValuEngine downgraded shares of TPI Composites from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. BidaskClub downgraded shares of TPI Composites from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Craig Hallum initiated coverage on shares of TPI Composites in a research note on Tuesday, January 16th. They set a “buy” rating and a $33.00 price target on the stock. Finally, Canaccord Genuity reissued a “buy” rating and set a $26.00 price target on shares of TPI Composites in a research note on Tuesday, March 6th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $26.89.



TPIC traded down $0.21 on Thursday, reaching $22.95. The company had a trading volume of 99,495 shares, compared to its average volume of 188,047. The company has a market capitalization of $785.94, a P/E ratio of 18.41 and a beta of -0.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 0.93. TPI Composites has a 52-week low of $15.26 and a 52-week high of $26.00.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Thursday, March 8th. The industrial products company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $247.10 million during the quarter, compared to analysts’ expectations of $249.00 million. TPI Composites had a net margin of 4.70% and a return on equity of 31.56%. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) earnings per share. equities analysts anticipate that TPI Composites will post 0.38 earnings per share for the current year.

In related news, Director Philip J. Deutch sold 317,000 shares of TPI Composites stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $21.83, for a total value of $6,920,110.00. Following the transaction, the director now directly owns 2,880 shares of the company’s stock, valued at $62,870.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel G. Weiss sold 200,000 shares of TPI Composites stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $22.54, for a total transaction of $4,508,000.00. Following the completion of the transaction, the director now directly owns 2,880 shares in the company, valued at $64,915.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 667,426 shares of company stock worth $14,818,370. 73.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of TPIC. The Manufacturers Life Insurance Company increased its stake in shares of TPI Composites by 310.3% in the second quarter. The Manufacturers Life Insurance Company now owns 10,011 shares of the industrial products company’s stock worth $185,000 after buying an additional 7,571 shares during the period. Ellington Management Group LLC purchased a new position in shares of TPI Composites in the fourth quarter worth $221,000. Sei Investments Co. increased its stake in shares of TPI Composites by 30.4% in the third quarter. Sei Investments Co. now owns 10,089 shares of the industrial products company’s stock worth $225,000 after buying an additional 2,355 shares during the period. Wells Fargo & Company MN increased its stake in shares of TPI Composites by 36.9% in the third quarter. Wells Fargo & Company MN now owns 10,607 shares of the industrial products company’s stock worth $237,000 after buying an additional 2,857 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of TPI Composites in the fourth quarter worth $266,000. 38.65% of the stock is currently owned by institutional investors.

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About TPI Composites

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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