TPI Composites (TPIC) Downgraded by Zacks Investment Research to Sell

TPI Composites (NASDAQ:TPIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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 analysts have also recently weighed in on TPIC. Roth Capital set a $37.00 price target on TPI Composites and gave the stock a “buy” rating in a report on Tuesday, July 10th. Canaccord Genuity lifted their price target on TPI Composites from $26.00 to $35.50 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Morgan Stanley lifted their price target on TPI Composites from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 16th. TheStreet raised TPI Composites from a “c” rating to a “b-” rating in a report on Monday, July 23rd. Finally, Craig Hallum lifted their price target on TPI Composites from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. TPI Composites currently has a consensus rating of “Buy” and a consensus target price of $35.06.



Shares of NASDAQ TPIC traded up $0.14 during midday trading on Wednesday, hitting $25.48. 2,980 shares of the company’s stock were exchanged, compared to its average volume of 335,794. The company has a current ratio of 1.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39. TPI Composites has a 12 month low of $16.35 and a 12 month high of $32.22. The company has a market capitalization of $821.77 million, a P/E ratio of 20.38 and a beta of -0.89.

TPI Composites (NASDAQ:TPIC) last issued its earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.09). TPI Composites had a return on equity of 17.01% and a net margin of 3.17%. The business had revenue of $230.61 million for the quarter, compared to the consensus estimate of $240.29 million. Analysts predict that TPI Composites will post 0.3 EPS for the current fiscal year.

In other TPI Composites news, Director Michael Lawrence Derosa sold 123,435 shares of TPI Composites stock in a transaction on Monday, August 20th. The stock was sold at an average price of $26.75, for a total value of $3,301,886.25. Following the completion of the transaction, the director now directly owns 6,620 shares of the company’s stock, valued at approximately $177,085. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip J. Deutch sold 51,664 shares of TPI Composites stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $26.46, for a total value of $1,367,029.44. Following the completion of the transaction, the director now directly owns 6,620 shares of the company’s stock, valued at $175,165.20. The disclosure for this sale can be found here. Insiders sold a total of 2,624,469 shares of company stock valued at $71,590,418 over the last ninety days. Insiders own 58.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in TPI Composites by 36.2% during the 1st quarter. BlackRock Inc. now owns 692,045 shares of the industrial products company’s stock worth $15,537,000 after acquiring an additional 184,039 shares during the last quarter. JPMorgan Chase & Co. grew its position in TPI Composites by 315.5% during the 1st quarter. JPMorgan Chase & Co. now owns 56,203 shares of the industrial products company’s stock worth $1,261,000 after acquiring an additional 42,675 shares during the last quarter. Dimensional Fund Advisors LP grew its position in TPI Composites by 67.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 390,699 shares of the industrial products company’s stock worth $8,771,000 after acquiring an additional 157,337 shares during the last quarter. Russell Investments Group Ltd. grew its position in TPI Composites by 215.9% during the 1st quarter. Russell Investments Group Ltd. now owns 27,936 shares of the industrial products company’s stock worth $627,000 after acquiring an additional 19,094 shares during the last quarter. Finally, Sei Investments Co. grew its position in TPI Composites by 40.3% during the 1st quarter. Sei Investments Co. now owns 7,992 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 2,294 shares during the last quarter. 51.05% of the stock is owned by institutional investors.

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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