TPI Composites (NASDAQ:TPIC) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of TPI Composites (NASDAQ:TPIC) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

Several other equities research analysts have also weighed in on TPIC. Zacks Investment Research lowered shares of TPI Composites from a buy rating to a hold rating in a research note on Thursday, May 9th. Canaccord Genuity dropped their price objective on shares of TPI Composites from $28.00 to $25.00 and set a buy rating on the stock in a research note on Friday, August 9th. Craig Hallum dropped their price objective on shares of TPI Composites from $37.00 to $31.00 and set an in-line rating on the stock in a research note on Thursday, August 8th. ValuEngine lowered shares of TPI Composites from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Roth Capital dropped their price objective on shares of TPI Composites from $34.00 to $28.00 and set a buy rating on the stock in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $33.00.

Shares of TPI Composites stock opened at $17.69 on Tuesday. The firm has a market cap of $655.62 million, a PE ratio of 221.13 and a beta of 1.53. The firm’s 50-day simple moving average is $24.25 and its 200-day simple moving average is $26.67. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.27. TPI Composites has a 1 year low of $16.92 and a 1 year high of $32.74.



TPI Composites (NASDAQ:TPIC) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.33. The business had revenue of $330.77 million for the quarter, compared to analyst estimates of $330.90 million. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. The company’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) EPS. On average, equities analysts predict that TPI Composites will post 0.04 earnings per share for the current year.

In other TPI Composites news, Director Paul G. Giovacchini acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $22.55 per share, for a total transaction of $112,750.00. Following the completion of the purchase, the director now directly owns 15,017 shares in the company, valued at $338,633.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas J. Castle sold 1,527 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $22.52, for a total transaction of $34,388.04. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 12,470 shares of company stock worth $270,570. 20.30% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. increased its stake in shares of TPI Composites by 13.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,758 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 328 shares during the period. Legal & General Group Plc increased its stake in shares of TPI Composites by 28.6% in the fourth quarter. Legal & General Group Plc now owns 2,775 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 617 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of TPI Composites by 5.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 13,055 shares of the industrial products company’s stock valued at $323,000 after purchasing an additional 620 shares during the period. Trillium Asset Management LLC increased its stake in shares of TPI Composites by 0.6% in the first quarter. Trillium Asset Management LLC now owns 122,207 shares of the industrial products company’s stock valued at $3,498,000 after purchasing an additional 750 shares during the period. Finally, CoreCommodity Management LLC increased its stake in shares of TPI Composites by 4.0% in the second quarter. CoreCommodity Management LLC now owns 21,287 shares of the industrial products company’s stock valued at $526,000 after purchasing an additional 828 shares during the period. Institutional investors own 82.40% of the company’s stock.

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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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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