TPI Composites, Inc. (NASDAQ:TPIC) had its price objective upped by Roth Capital from $23.00 to $28.00 in a research report released on Wednesday, August 9th. Roth Capital currently has a buy rating on the industrial products company’s stock.
TPIC has been the subject of a number of other reports. Zacks Investment Research cut shares of TPI Composites from a hold rating to a sell rating in a research note on Wednesday, July 19th. Barclays PLC set a $23.00 price objective on shares of TPI Composites and gave the stock a buy rating in a research note on Monday, May 8th. Finally, Cowen and Company set a $26.00 price objective on shares of TPI Composites and gave the stock a buy rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $24.83.
TPI Composites (NASDAQ TPIC) opened at 20.78 on Wednesday. TPI Composites has a 1-year low of $13.27 and a 1-year high of $23.30. The stock has a market cap of $681.56 million and a price-to-earnings ratio of 38.99. The firm’s 50 day moving average price is $19.32 and its 200-day moving average price is $18.35.
TPI Composites (NASDAQ:TPIC) last issued its earnings results on Tuesday, August 8th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.27. TPI Composites had a net margin of 2.18% and a return on equity of 18.24%. The company had revenue of $248.19 million during the quarter, compared to analysts’ expectations of $225.36 million. TPI Composites’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities analysts anticipate that TPI Composites will post $0.91 earnings per share for the current year.
In other news, Director Jack A. Henry bought 3,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average price of $21.70 per share, for a total transaction of $73,780.00. Following the completion of the transaction, the director now owns 13,800 shares in the company, valued at $299,460. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jack A. Henry bought 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were purchased at an average price of $16.82 per share, for a total transaction of $74,008.00. Following the transaction, the director now owns 4,400 shares of the company’s stock, valued at approximately $74,008. The disclosure for this purchase can be found here. Company insiders own 73.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TPIC. Essex Investment Management Co. LLC raised its stake in shares of TPI Composites by 38.1% in the first quarter. Essex Investment Management Co. LLC now owns 56,155 shares of the industrial products company’s stock worth $1,068,000 after buying an additional 15,485 shares during the period. Sanders Morris Harris Inc. raised its stake in shares of TPI Composites by 24.2% in the first quarter. Sanders Morris Harris Inc. now owns 41,000 shares of the industrial products company’s stock worth $779,000 after buying an additional 8,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TPI Composites during the first quarter worth about $424,000. TFS Capital LLC purchased a new stake in shares of TPI Composites during the first quarter worth about $239,000. Finally, Oxford Asset Management purchased a new stake in shares of TPI Composites during the first quarter worth about $210,000. Hedge funds and other institutional investors own 23.41% 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.
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