Point72 Asset Management L.P. decreased its holdings in shares of TPI Composites Inc (NASDAQ:TPIC) by 14.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 302,324 shares of the industrial products company’s stock after selling 49,766 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.86% of TPI Composites worth $7,473,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPIC. BlackRock Inc. grew its position in TPI Composites by 61.0% in the 2nd quarter. BlackRock Inc. now owns 1,975,173 shares of the industrial products company’s stock worth $48,826,000 after purchasing an additional 748,204 shares during the last quarter. Redwood Capital Management LLC boosted its holdings in TPI Composites by 81.4% during the second quarter. Redwood Capital Management LLC now owns 761,408 shares of the industrial products company’s stock worth $18,822,000 after buying an additional 341,670 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in TPI Composites by 24.3% during the second quarter. Bank of New York Mellon Corp now owns 1,456,149 shares of the industrial products company’s stock worth $35,995,000 after buying an additional 284,649 shares in the last quarter. Scout Investments Inc. bought a new stake in TPI Composites during the second quarter worth approximately $5,949,000. Finally, Trigran Investments Inc. lifted its position in shares of TPI Composites by 11.9% in the 2nd quarter. Trigran Investments Inc. now owns 1,958,285 shares of the industrial products company’s stock valued at $48,409,000 after acquiring an additional 208,625 shares in the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.
A number of research firms have issued reports on TPIC. Canaccord Genuity cut their target price on shares of TPI Composites from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th. ValuEngine upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. BidaskClub upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. JMP Securities lowered their target price on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Tuesday, September 10th. Finally, Craig Hallum decreased their price target on shares of TPI Composites from $37.00 to $31.00 and set an “in-line” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.50.
NASDAQ TPIC traded down $0.33 on Tuesday, hitting $19.40. 469,232 shares of the stock were exchanged, compared to its average volume of 510,167. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.27 and a quick ratio of 1.25. The business’s fifty day moving average is $18.73 and its 200 day moving average is $24.36. TPI Composites Inc has a 52 week low of $16.80 and a 52 week high of $32.74. The company has a market capitalization of $693.58 million, a PE ratio of 242.50 and a beta of 1.72.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.33. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. The firm had revenue of $330.77 million for the quarter, compared to the consensus estimate of $330.90 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The company’s quarterly revenue was up 43.4% on a year-over-year basis. Analysts predict that TPI Composites Inc will post 0.03 EPS for the current fiscal year.
TPI Composites 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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