TPI Composites (TPIC) Trading 7.9% Higher

TPI Composites Inc (NASDAQ:TPIC) shares traded up 7.9% during trading on Friday . The stock traded as high as $30.07 and last traded at $29.97. 659,016 shares traded hands during trading, an increase of 167% from the average session volume of 246,811 shares. The stock had previously closed at $27.77.

Several research analysts have commented on the stock. BidaskClub raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. TheStreet upgraded TPI Composites from a “c” rating to a “b” rating in a research report on Monday, November 26th. Zacks Investment Research upgraded TPI Composites from a “sell” rating to a “hold” rating in a research report on Saturday, November 17th. JMP Securities set a $39.00 target price on TPI Composites and gave the stock a “buy” rating in a research report on Thursday, November 8th. Finally, Cowen set a $33.00 target price on TPI Composites and gave the stock a “buy” rating in a research report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. TPI Composites currently has an average rating of “Buy” and a consensus price target of $35.56.

The stock has a market capitalization of $951.47 million, a price-to-earnings ratio of 23.98 and a beta of 0.56. The company has a quick ratio of 1.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.41.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Wednesday, November 7th. The industrial products company reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.34. TPI Composites had a return on equity of 5.74% and a net margin of 2.03%. The business had revenue of $255.00 million during the quarter, compared to the consensus estimate of $258.35 million. During the same period last year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that TPI Composites Inc will post 0.42 EPS for the current fiscal year.

In related news, Director Michael Lawrence Derosa sold 29,377 shares of TPI Composites stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $23.80, for a total value of $699,172.60. Following the completion of the sale, the director now directly owns 6,620 shares in the company, valued at $157,556. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Element Partners Ii Intrafund sold 4,796 shares of TPI Composites stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $25.01, for a total value of $119,947.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,255,929 shares of company stock valued at $31,812,269. Corporate insiders own 58.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. First Quadrant L P CA raised its holdings in shares of TPI Composites by 155.0% in the third quarter. First Quadrant L P CA now owns 4,852 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 2,949 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of TPI Composites in the second quarter valued at about $162,000. Citadel Advisors LLC bought a new stake in shares of TPI Composites in the second quarter valued at about $208,000. MetLife Investment Advisors LLC bought a new stake in shares of TPI Composites in the second quarter valued at about $214,000. Finally, First Republic Investment Management Inc. bought a new stake in shares of TPI Composites in the third quarter valued at about $210,000. Hedge funds and other institutional investors own 61.36% of the company’s stock.

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About TPI Composites (NASDAQ:TPIC)

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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