BidaskClub Lowers TPI Composites (NASDAQ:TPIC) to Hold

BidaskClub lowered shares of TPI Composites (NASDAQ:TPIC) from a buy rating to a hold rating in a report published on Tuesday morning, BidAskClub reports.

Other research analysts have also recently issued research reports about the company. Roth Capital dropped their price target on TPI Composites from $34.00 to $28.00 and set a buy rating for the company in a research report on Friday, August 9th. Zacks Investment Research cut TPI Composites from a buy rating to a hold rating in a research report on Thursday, May 9th. Craig Hallum dropped their price objective on TPI Composites from $37.00 to $31.00 and set an in-line rating for the company in a research report on Thursday, August 8th. Canaccord Genuity dropped their price objective on TPI Composites from $28.00 to $25.00 and set a buy rating for the company in a research report on Friday, August 9th. Finally, ValuEngine cut TPI Composites from a buy rating to a hold rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $33.00.

Shares of TPIC stock opened at $17.36 on Tuesday. TPI Composites has a fifty-two week low of $16.92 and a fifty-two week high of $32.74. The stock has a market cap of $660.89 million, a P/E ratio of 217.00 and a beta of 1.53. The business has a fifty day simple moving average of $24.39 and a 200-day simple moving average of $26.72. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 1.11.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.33. TPI Composites had a negative return on equity of 5.59% and a negative net margin of 0.82%. The business had revenue of $330.77 million during the quarter, compared to analysts’ expectations of $330.90 million. During the same quarter last year, the business posted ($0.12) earnings per share. The business’s revenue for the quarter was up 43.4% on a year-over-year basis. On average, sell-side analysts anticipate that TPI Composites will post 0.04 earnings per share for the current year.

In related news, insider Thomas J. Castle sold 1,527 shares of TPI Composites stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $22.52, for a total transaction of $34,388.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul G. Giovacchini acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $22.55 per share, with a total value of $112,750.00. Following the transaction, the director now owns 15,017 shares in the company, valued at approximately $338,633.35. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 12,470 shares of company stock valued at $270,570. 20.30% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its stake in TPI Composites by 4,759.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,110 shares of the industrial products company’s stock worth $89,000 after buying an additional 3,046 shares during the last quarter. Macquarie Group Ltd. boosted its stake in TPI Composites by 6,633.0% in the 4th quarter. Macquarie Group Ltd. now owns 6,935 shares of the industrial products company’s stock worth $171,000 after buying an additional 6,832 shares during the last quarter. Hamilton Lane Advisors LLC acquired a new stake in TPI Composites in the 1st quarter worth about $894,000. Dimensional Fund Advisors LP boosted its stake in TPI Composites by 28.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 755,252 shares of the industrial products company’s stock worth $18,564,000 after buying an additional 169,528 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in TPI Composites by 9.9% in the 2nd quarter. Rice Hall James & Associates LLC now owns 100,803 shares of the industrial products company’s stock worth $2,492,000 after buying an additional 9,095 shares during the last quarter. 82.40% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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