TPI Composites (TPIC) PT Set at $33.00 by Cowen

TPI Composites (NASDAQ:TPIC) has been given a $33.00 price target by investment analysts at Cowen in a research report issued on Thursday. The firm presently has a “buy” rating on the industrial products company’s stock. Cowen’s target price points to a potential upside of 28.96% from the company’s previous close.

Several other brokerages have also issued reports on TPIC. Morgan Stanley reissued an “overweight” rating and issued a $42.00 target price (up previously from $31.00) on shares of TPI Composites in a research report on Monday, October 29th. UBS Group increased their target price on TPI Composites from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. ValuEngine lowered TPI Composites from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. BidaskClub raised TPI Composites from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Finally, JMP Securities increased their target price on TPI Composites from $36.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $34.61.

TPIC opened at $25.59 on Thursday. The company has a market cap of $945.66 million, a price-to-earnings ratio of 20.47 and a beta of 0.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.65 and a quick ratio of 1.63. TPI Composites has a one year low of $16.35 and a one year high of $32.22.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.34. The business had revenue of $255.00 million during the quarter, compared to analyst estimates of $258.35 million. TPI Composites had a return on equity of 17.01% and a net margin of 3.17%. TPI Composites’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. Equities research analysts forecast that TPI Composites will post 0.35 EPS for the current fiscal year.

In related news, major shareholder Element Partners Ii Lp sold 87,396 shares of the company’s stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $25.00, for a total value of $2,184,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel G. Weiss sold 48,080 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $27.60, for a total value of $1,327,008.00. Following the completion of the sale, the director now owns 6,620 shares in the company, valued at approximately $182,712. The disclosure for this sale can be found here. Insiders sold a total of 2,629,265 shares of company stock valued at $71,588,130 in the last three months. Corporate insiders own 58.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Trigran Investments Inc. grew its stake in shares of TPI Composites by 130.7% in the 2nd quarter. Trigran Investments Inc. now owns 848,543 shares of the industrial products company’s stock worth $24,811,000 after buying an additional 480,751 shares during the last quarter. Sei Investments Co. grew its stake in shares of TPI Composites by 411.0% in the 2nd quarter. Sei Investments Co. now owns 40,838 shares of the industrial products company’s stock worth $1,194,000 after buying an additional 32,846 shares during the last quarter. BlackRock Inc. grew its stake in shares of TPI Composites by 38.7% in the 2nd quarter. BlackRock Inc. now owns 959,762 shares of the industrial products company’s stock worth $28,063,000 after buying an additional 267,717 shares during the last quarter. Handelsinvest Investeringsforvaltning grew its stake in shares of TPI Composites by 9.4% in the 3rd quarter. Handelsinvest Investeringsforvaltning now owns 350,000 shares of the industrial products company’s stock worth $9,993,000 after buying an additional 30,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of TPI Composites by 315.5% in the 1st quarter. JPMorgan Chase & Co. now owns 56,203 shares of the industrial products company’s stock worth $1,261,000 after buying an additional 42,675 shares during the last quarter. Institutional investors own 51.54% 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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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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