TPI Composites (NASDAQ:TPIC) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of TPI Composites (NASDAQ:TPIC) from a hold rating to a strong sell rating in a report issued on Saturday morning, Zacks.com reports.

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 research firms have also recently weighed in on TPIC. JMP Securities lowered their price objective on TPI Composites from $34.00 to $25.00 and set a market outperform rating for the company in a research report on Tuesday, September 10th. Craig Hallum reduced their target price on TPI Composites from $37.00 to $31.00 and set an in-line rating for the company in a research note on Thursday, August 8th. Roth Capital lowered TPI Composites from a buy rating to a neutral rating in a research note on Friday. Canaccord Genuity reduced their target price on TPI Composites from $25.00 to $22.00 and set a buy rating for the company in a research note on Thursday. Finally, UBS Group reduced their target price on TPI Composites from $29.00 to $27.00 and set a buy rating for the company in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. TPI Composites currently has a consensus rating of Buy and a consensus target price of $26.00.

NASDAQ:TPIC traded up $0.14 during midday trading on Friday, hitting $16.26. The stock had a trading volume of 1,600,400 shares, compared to its average volume of 456,181. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $761.78 million, a price-to-earnings ratio of 203.25 and a beta of 1.73. TPI Composites has a one year low of $15.34 and a one year high of $32.74. The stock has a 50-day moving average of $19.40 and a 200 day moving average of $22.04.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.19). The business had revenue of $383.84 million during the quarter, compared to analyst estimates of $400.60 million. TPI Composites had a negative return on equity of 5.59% and a negative net margin of 0.82%. The firm’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. On average, sell-side analysts anticipate that TPI Composites will post 0.03 earnings per share for the current fiscal year.

In related news, President William E. Siwek acquired 2,823 shares of TPI Composites stock in a transaction on Monday, August 26th. The stock was acquired at an average price of $17.73 per share, for a total transaction of $50,051.79. Following the purchase, the president now owns 67,676 shares of the company’s stock, valued at approximately $1,199,895.48. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 20.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trillium Asset Management LLC raised its stake in shares of TPI Composites by 25.6% during the 3rd quarter. Trillium Asset Management LLC now owns 236,946 shares of the industrial products company’s stock valued at $4,443,000 after buying an additional 48,309 shares during the last quarter. Wellington Shields & Co. LLC purchased a new position in shares of TPI Composites during the 3rd quarter valued at about $375,000. Carillon Tower Advisers Inc. raised its stake in shares of TPI Composites by 36.0% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 196,212 shares of the industrial products company’s stock valued at $3,679,000 after buying an additional 51,900 shares during the last quarter. Triodos Investment Management BV raised its stake in shares of TPI Composites by 75.0% during the 3rd quarter. Triodos Investment Management BV now owns 350,000 shares of the industrial products company’s stock valued at $6,563,000 after buying an additional 150,000 shares during the last quarter. Finally, Alps Advisors Inc. grew its position in shares of TPI Composites by 24.8% during the 3rd quarter. Alps Advisors Inc. now owns 67,431 shares of the industrial products company’s stock valued at $1,264,000 after acquiring an additional 13,389 shares during the period. Institutional investors and hedge funds own 89.61% of the company’s stock.

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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