UBS Group Cuts TPI Composites (NASDAQ:TPIC) Price Target to $27.00

TPI Composites (NASDAQ:TPIC) had its price target decreased by UBS Group from $29.00 to $27.00 in a research report report published on Friday, AnalystRatings.com reports. UBS Group currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on TPIC. Benchmark started coverage on TPI Composites in a report on Friday, October 4th. They issued a buy rating and a $30.00 target price on the stock. Roth Capital decreased their target price on TPI Composites from $34.00 to $28.00 and set a buy rating on the stock in a report on Friday, August 9th. Craig Hallum decreased their price target on TPI Composites from $37.00 to $31.00 and set an in-line rating on the stock in a report on Thursday, August 8th. JMP Securities decreased their price target on TPI Composites from $34.00 to $25.00 and set a market outperform rating on the stock in a report on Tuesday, September 10th. Finally, BidaskClub raised TPI Composites from a sell rating to a hold rating in a report on Saturday, September 14th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $29.73.

TPI Composites stock traded up $0.30 during trading on Friday, reaching $18.83. The company had a trading volume of 284,453 shares, compared to its average volume of 432,944. TPI Composites has a 52 week low of $16.80 and a 52 week high of $32.74. The firm’s 50-day simple moving average is $18.41 and its 200 day simple moving average is $23.21. The firm has a market capitalization of $651.33 million, a price-to-earnings ratio of 235.38 and a beta of 1.72. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $330.77 million for the quarter, compared to analysts’ expectations of $330.90 million. During the same period last year, the firm earned ($0.12) EPS. TPI Composites’s revenue for the quarter was up 43.4% compared to the same quarter last year. On average, analysts predict that TPI Composites will post 0.03 earnings per share for the current year.

In other TPI Composites news, President William E. Siwek purchased 2,823 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were acquired at an average cost of $17.73 per share, with a total value of $50,051.79. Following the completion of the acquisition, the president now directly owns 67,676 shares in the company, valued at $1,199,895.48. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 20.30% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. TCI Wealth Advisors Inc. purchased a new position in shares of TPI Composites during the second quarter valued at about $25,000. Bank of Montreal Can purchased a new position in shares of TPI Composites during the second quarter valued at about $59,000. Cubist Systematic Strategies LLC purchased a new position in shares of TPI Composites during the second quarter valued at about $63,000. Tower Research Capital LLC TRC purchased a new position in shares of TPI Composites during the second quarter valued at about $135,000. Finally, Macquarie Group Ltd. grew its position in shares of TPI Composites by 18.9% during the second quarter. Macquarie Group Ltd. now owns 8,786 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 1,397 shares in the last quarter. 87.06% of the stock is currently owned by institutional investors and hedge funds.

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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