TPI Composites (NASDAQ:TPIC) had its price objective lowered by equities research analysts at JMP Securities from $34.00 to $25.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm currently has a “market outperform” rating on the industrial products company’s stock. JMP Securities’ price objective points to a potential upside of 39.82% from the company’s previous close.
TPIC has been the subject of a number of other reports. Raymond James upgraded TPI Composites from an “outperform” rating to a “strong-buy” rating and set a $32.00 price target for the company in a report on Tuesday, August 20th. Craig Hallum lowered their price objective on TPI Composites from $37.00 to $31.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Roth Capital lowered their price objective on TPI Composites from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Canaccord Genuity lowered their price objective on TPI Composites from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, ValuEngine downgraded TPI Composites from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. TPI Composites currently has an average rating of “Buy” and a consensus price target of $31.50.
Shares of TPIC traded up $0.12 during trading on Tuesday, reaching $17.88. The company’s stock had a trading volume of 441,941 shares, compared to its average volume of 427,405. TPI Composites has a twelve month low of $16.80 and a twelve month high of $32.74. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. The company has a market cap of $618.71 million, a price-to-earnings ratio of 222.50 and a beta of 1.71. The company has a fifty day moving average of $20.21 and a two-hundred day moving average of $24.96.
In other TPI Composites news, President William E. Siwek purchased 2,823 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $17.73 per share, with a total value of $50,051.79. Following the completion of the purchase, the president now owns 67,676 shares in the company, valued at approximately $1,199,895.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 20.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. TCI Wealth Advisors Inc. acquired a new stake in shares of TPI Composites in the second quarter valued at $25,000. Bank of Montreal Can acquired a new stake in shares of TPI Composites in the second quarter valued at $59,000. Cubist Systematic Strategies LLC acquired a new stake in shares of TPI Composites in the second quarter valued at $63,000. Oppenheimer Asset Management Inc. lifted its holdings 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 buying an additional 328 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of TPI Composites by 4,759.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,110 shares of the industrial products company’s stock valued at $89,000 after buying an additional 3,046 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.
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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