Baxter Bros Inc. Purchases New Position in TPI Composites, Inc. (NASDAQ:TPIC)

Baxter Bros Inc. bought a new position in shares of TPI Composites, Inc. (NASDAQ:TPIC) during the second quarter, HoldingsChannel.com reports. The firm bought 5,660 shares of the industrial products company’s stock, valued at approximately $274,000.

Several other large investors have also made changes to their positions in TPIC. FMR LLC grew its position in shares of TPI Composites by 24,650.0% during the 1st quarter. FMR LLC now owns 49,500 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 49,300 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of TPI Composites by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 841,605 shares of the industrial products company’s stock worth $44,419,000 after purchasing an additional 7,960 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of TPI Composites by 4,913.3% during the 1st quarter. Victory Capital Management Inc. now owns 260,340 shares of the industrial products company’s stock worth $14,691,000 after purchasing an additional 255,147 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of TPI Composites by 67.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 26,378 shares of the industrial products company’s stock worth $1,489,000 after purchasing an additional 10,589 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of TPI Composites by 4.8% during the 1st quarter. Alliancebernstein L.P. now owns 35,321 shares of the industrial products company’s stock worth $1,993,000 after acquiring an additional 1,614 shares during the period. Hedge funds and other institutional investors own 84.94% of the company’s stock.

Shares of TPIC stock traded down $2.72 during trading hours on Monday, hitting $34.01. 6,374 shares of the company’s stock traded hands, compared to its average volume of 766,077. The stock’s 50 day simple moving average is $39.18 and its 200 day simple moving average is $45.64. The stock has a market cap of $1.27 billion, a PE ratio of 262.38 and a beta of 1.58. TPI Composites, Inc. has a 12 month low of $24.02 and a 12 month high of $81.36. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 1.12.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, August 5th. The industrial products company reported ($1.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.32). TPI Composites had a return on equity of 2.42% and a net margin of 0.33%. The firm had revenue of $458.84 million for the quarter, compared to analyst estimates of $458.79 million. As a group, equities research analysts expect that TPI Composites, Inc. will post -1.67 EPS for the current fiscal year.

A number of analysts have recently weighed in on the stock. Roth Capital reaffirmed a “buy” rating and set a $37.21 price target (down previously from $60.00) on shares of TPI Composites in a report on Tuesday, July 27th. Seaport Global Securities assumed coverage on shares of TPI Composites in a report on Thursday, July 15th. They set a “buy” rating and a $67.00 price target for the company. Piper Sandler assumed coverage on shares of TPI Composites in a report on Thursday, June 10th. They set a “neutral” rating and a $50.00 price target for the company. Raymond James cut their price target on shares of TPI Composites from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, July 23rd. Finally, Bank of America initiated coverage on shares of TPI Composites in a report on Monday, August 30th. They set an “underperform” rating and a $22.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $54.87.

TPI Composites Company Profile

TPI Composites, Inc is a holding company, which engages in the manufacture of composite wind blades for the wind energy market. It operates through the following segments: United States (US); Asia; Mexico; and Europe, the Middle East, and Africa (EMEA). The US segment includes the production of wind blades in Newton, Iowa plant; and manufacturing of precision molding and assembly systems used for the manufacture of wind blades in Warren, Rhode Island facility, and composite solutions for the transportation industry.

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Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

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