TPI Composites (NASDAQ:TPIC) Downgraded by Berenberg Bank

TPI Composites (NASDAQ:TPIC) was downgraded by analysts at Berenberg Bank to a “neutral” rating in a note issued to investors on Friday, Stock Target Advisor reports.

A number of other analysts have also recently weighed in on the stock. BidaskClub raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Roth Capital cut shares of TPI Composites from a “buy” rating to a “neutral” rating in a research report on Friday. Raymond James decreased their price objective on shares of TPI Composites from $32.00 to $25.00 and set a “strong-buy” rating for the company in a research report on Thursday. ValuEngine cut shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity decreased their price objective on shares of TPI Composites from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. TPI Composites currently has an average rating of “Buy” and an average price target of $26.00.

Shares of TPI Composites stock opened at $16.26 on Friday. The company has a fifty day moving average price of $19.40 and a 200 day moving average price of $22.04. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11. TPI Composites has a twelve month low of $15.34 and a twelve month high of $32.74. The stock has a market cap of $761.78 million, a price-to-earnings ratio of 203.25 and a beta of 1.73.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.19). TPI Composites had a negative return on equity of 5.59% and a negative net margin of 0.82%. The business had revenue of $383.84 million for the quarter, compared to analysts’ expectations of $400.60 million. During the same period last year, the company posted $0.26 earnings per share. The firm’s revenue for the quarter was up 50.5% on a year-over-year basis. Analysts forecast that TPI Composites will post 0.03 earnings per share for the current year.

In other news, President William E. Siwek acquired 2,823 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was bought at an average cost of $17.73 per share, with a total value of $50,051.79. Following the transaction, the president now directly owns 67,676 shares in the company, valued at approximately $1,199,895.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 20.30% of the company’s stock.

A number of large investors have recently bought and sold shares of TPIC. Trillium Asset Management LLC raised its stake in shares of TPI Composites by 25.6% in the 3rd quarter. Trillium Asset Management LLC now owns 236,946 shares of the industrial products company’s stock valued at $4,443,000 after purchasing an additional 48,309 shares in the last quarter. Wellington Shields & Co. LLC acquired a new stake in shares of TPI Composites in the 3rd quarter valued at about $375,000. Carillon Tower Advisers Inc. raised its stake in shares of TPI Composites by 36.0% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 196,212 shares of the industrial products company’s stock valued at $3,679,000 after purchasing an additional 51,900 shares in the last quarter. Triodos Investment Management BV raised its stake in shares of TPI Composites by 75.0% in the 3rd quarter. Triodos Investment Management BV now owns 350,000 shares of the industrial products company’s stock valued at $6,563,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of TPI Composites by 24.8% in the 3rd quarter. Alps Advisors Inc. now owns 67,431 shares of the industrial products company’s stock valued at $1,264,000 after purchasing an additional 13,389 shares in the last quarter. 89.61% of the stock is owned by institutional investors.

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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