TPI Composites (NASDAQ:TPIC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “TPI Composites, Inc. is the manufacturer of composite wind blades for the wind energy market. It operates primarily in the U.S., Mexico, China and Turkey. TPI Composites, Inc. is headquartered in Scottsdale, Arizona. “
A number of other analysts have also commented on TPIC. JMP Securities started coverage on TPI Composites in a research note on Thursday, November 16th. They issued an “outperform” rating and a $33.00 price target for the company. JPMorgan Chase & Co. raised TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 price target for the company in a research note on Thursday, November 30th. BidaskClub raised TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Craig Hallum started coverage on TPI Composites in a report on Tuesday, January 16th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, ValuEngine downgraded TPI Composites from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $27.38.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Thursday, March 8th. The industrial products company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). TPI Composites had a return on equity of 33.35% and a net margin of 4.70%. The business had revenue of $247.10 million during the quarter, compared to analysts’ expectations of $249.00 million. During the same period in the previous year, the business earned ($0.07) EPS. The business’s revenue was up 33.1% compared to the same quarter last year. analysts expect that TPI Composites will post 0.35 EPS for the current fiscal year.
In other news, Director Daniel G. Weiss sold 51,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $19.14, for a total transaction of $976,140.00. Following the completion of the transaction, the director now directly owns 2,880 shares in the company, valued at $55,123.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $18.79, for a total value of $608,570.52. The disclosure for this sale can be found here. 73.70% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Nationwide Fund Advisors increased its holdings in shares of TPI Composites by 85.8% during the second quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 2,788 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of TPI Composites by 70.2% during the second quarter. Royal Bank of Canada now owns 9,338 shares of the industrial products company’s stock valued at $172,000 after acquiring an additional 3,852 shares in the last quarter. Trexquant Investment LP bought a new position in shares of TPI Composites during the third quarter valued at $211,000. The Manufacturers Life Insurance Company increased its holdings in shares of TPI Composites by 310.3% during the second quarter. The Manufacturers Life Insurance Company now owns 10,011 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 7,571 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of TPI Composites by 30.4% during the third quarter. Sei Investments Co. now owns 10,089 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 2,355 shares in the last quarter. Hedge funds and other institutional investors own 37.94% of the company’s stock.
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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.
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