TPI Composites, Inc. (TPIC) Raised to Buy at ValuEngine
ValuEngine upgraded shares of TPI Composites, Inc. (NASDAQ:TPIC) from a hold rating to a buy rating in a research report released on Thursday.
A number of other brokerages have also issued reports on TPIC. Canaccord Genuity lifted their target price on TPI Composites from $23.00 to $26.00 and gave the stock a buy rating in a research report on Monday, November 6th. Zacks Investment Research raised TPI Composites from a hold rating to a strong-buy rating and set a $26.00 target price on the stock in a research report on Wednesday, October 11th. J P Morgan Chase & Co lowered 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. Roth Capital lifted their target price on TPI Composites from $23.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, August 9th. Finally, Cowen and Company set a $26.00 target price on TPI Composites and gave the stock a buy rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. TPI Composites has a consensus rating of Buy and an average price target of $26.00.
TPI Composites (NASDAQ:TPIC) traded down $1.60 during trading hours on Thursday, reaching $19.66. The company’s stock had a trading volume of 560,400 shares, compared to its average volume of 168,337. The company has a quick ratio of 0.93, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. TPI Composites has a one year low of $13.27 and a one year high of $26.00. The stock has a market capitalization of $662.81 and a price-to-earnings ratio of 17.71.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.22 by $0.36. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. The company had revenue of $243.35 million for the quarter, compared to analyst estimates of $252.42 million. During the same period last year, the company posted $0.08 earnings per share. The firm’s revenue was up 22.3% compared to the same quarter last year. research analysts predict that TPI Composites will post 1.3 EPS for the current fiscal year.
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In other news, Director Jack A. Henry purchased 3,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average cost of $21.70 per share, for a total transaction of $73,780.00. Following the completion of the purchase, the director now owns 13,800 shares of the company’s stock, valued at $299,460. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 73.70% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. First Quadrant L P CA acquired a new position in TPI Composites in the third quarter worth about $126,000. Nationwide Fund Advisors grew its stake in TPI Composites by 85.8% in the second 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 in the last quarter. Sei Investments Co. grew its stake in TPI Composites by 916.3% in the second quarter. Sei Investments Co. now owns 7,734 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 6,973 shares in the last quarter. Wells Fargo & Company MN grew its stake in TPI Composites by 260.5% in the first quarter. Wells Fargo & Company MN now owns 7,750 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in TPI Composites by 242.5% in the second quarter. Advisor Group Inc. now owns 8,333 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 35.36% of the company’s stock.
About TPI Composites
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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