TPI Composites (TPIC) Trading Down 6.8%

TPI Composites Inc (NASDAQ:TPIC) shares traded down 6.8% during trading on Tuesday . The company traded as low as $16.35 and last traded at $17.65. 908,100 shares were traded during mid-day trading, an increase of 401% from the average session volume of 181,328 shares. The stock had previously closed at $18.93.

A number of research analysts have recently commented on the company. ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Roth Capital raised their price target on TPI Composites from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded TPI Composites from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. JMP Securities initiated coverage on TPI Composites in a research note on Thursday, November 16th. They set an “outperform” rating and a $33.00 price target on the stock. Finally, Canaccord Genuity raised their price target on TPI Composites from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $27.00.

The stock has a market cap of $588.03 and a PE ratio of 15.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 0.93.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, beating the Zacks’ 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 business had revenue of $243.35 million during the quarter, compared to the consensus estimate of $252.42 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. equities analysts predict that TPI Composites Inc will post 1.3 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of TPIC. FMR LLC lifted its stake in shares of TPI Composites by 45.2% during the second quarter. FMR LLC now owns 1,556,068 shares of the industrial products company’s stock worth $28,756,000 after purchasing an additional 484,681 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of TPI Composites by 1,755.3% in the second quarter. Bank of New York Mellon Corp now owns 361,690 shares of the industrial products company’s stock worth $6,684,000 after acquiring an additional 342,195 shares in the last quarter. Bamco Inc. NY lifted its stake in shares of TPI Composites by 238.5% in the second quarter. Bamco Inc. NY now owns 313,100 shares of the industrial products company’s stock worth $5,786,000 after acquiring an additional 220,600 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of TPI Composites by 79.9% in the second quarter. Vanguard Group Inc. now owns 485,589 shares of the industrial products company’s stock worth $8,973,000 after acquiring an additional 215,680 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of TPI Composites in the second quarter worth about $3,081,000. Institutional investors own 35.16% of the company’s stock.

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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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