JMP Securities Initiates Coverage on TPI Composites, Inc. (TPIC)

JMP Securities began coverage on shares of TPI Composites, Inc. (NASDAQ:TPIC) in a research note issued to investors on Thursday. The firm set an “outperform” rating and a $33.00 price target on the industrial products company’s stock. JMP Securities’ price objective points to a potential upside of 73.14% from the company’s previous close.

TPIC has been the topic of a number of other research reports. Canaccord Genuity lifted their price objective on shares of TPI Composites from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Cowen and Company set a $26.00 target price on shares of TPI Composites and gave the stock a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded shares of TPI Composites from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, J P Morgan Chase & Co downgraded shares of TPI Composites from an “overweight” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research report on Friday, August 11th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. TPI Composites presently has an average rating of “Buy” and an average target price of $27.00.

Shares of TPI Composites (NASDAQ:TPIC) traded down $0.97 during trading on Thursday, hitting $19.06. 670,611 shares of the stock were exchanged, compared to its average volume of 229,877. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 1.32. TPI Composites has a 52-week low of $13.55 and a 52-week high of $26.00. The stock has a market cap of $648.23 and a P/E ratio of 18.31.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.36. TPI Composites had a net margin of 4.09% and a return on equity of 30.80%. The firm had revenue of $243.35 million for the quarter, compared to the consensus estimate of $252.42 million. During the same quarter in the previous year, the firm earned $0.08 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. equities research analysts expect that TPI Composites will post 1.3 earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in TPIC. Nationwide Fund Advisors grew its position in TPI Composites by 85.8% during the 2nd quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 2,788 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of TPI Composites in the 3rd quarter valued at $126,000. Sei Investments Co. boosted its holdings in shares of TPI Composites by 916.3% in the 2nd quarter. Sei Investments Co. now owns 7,734 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 6,973 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of TPI Composites by 260.5% in the 1st quarter. Wells Fargo & Company MN now owns 7,750 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Advisor Group Inc. boosted its holdings in shares of TPI Composites by 242.5% in the 2nd quarter. Advisor Group Inc. now owns 8,333 shares of the industrial products company’s stock valued at $154,000 after acquiring an additional 5,900 shares during the last quarter. 35.36% of the stock is currently owned by institutional investors.

TPI Composites Company Profile

TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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