TPI Composites (TPIC) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of TPI Composites (NASDAQ:TPIC) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Several other equities analysts have also recently weighed in on TPIC. Zacks Investment Research upgraded TPI Composites from a hold rating to a strong-buy rating and set a $26.00 price objective for the company in a report on Wednesday, October 11th. Canaccord Genuity raised their price objective on TPI Composites from $23.00 to $26.00 and gave the company a buy rating in a report on Monday, November 6th. ValuEngine upgraded TPI Composites from a hold rating to a buy rating in a report on Thursday, November 9th. JMP Securities started coverage on TPI Composites in a report on Thursday, November 16th. They issued an outperform rating and a $33.00 price objective for the company. Finally, J P Morgan Chase & Co upgraded TPI Composites from a neutral rating to an overweight rating and set a $27.00 price objective for the company in a report on Thursday, November 30th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $27.00.

TPI Composites (TPIC) traded down $0.35 during mid-day trading on Thursday, reaching $20.11. The company’s stock had a trading volume of 234,371 shares, compared to its average volume of 188,726. The company has a market cap of $693.63 and a PE ratio of 18.12. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 1.32. TPI Composites has a 52-week low of $15.26 and a 52-week high of $26.00.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.36. The firm had revenue of $243.35 million during the quarter, compared to analysts’ expectations of $252.42 million. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. The company’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. equities analysts expect that TPI Composites will post 1.3 earnings per share for the current year.

In related news, major shareholder Investors L. P. Angeleno II sold 32,388 shares of TPI Composites stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $18.79, for a total transaction of $608,570.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel G. Weiss sold 51,000 shares of TPI Composites stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $19.14, for a total value of $976,140.00. Following the transaction, the director now owns 2,880 shares of the company’s stock, valued at approximately $55,123.20. The disclosure for this sale can be found here. 73.70% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors grew its holdings in TPI Composites by 85.8% during 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 during the period. First Quadrant L P CA bought a new position in TPI Composites during the third quarter worth about $126,000. Sei Investments Co. grew its holdings in TPI Composites by 916.3% during 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 during the period. Advisor Group Inc. grew its holdings in TPI Composites by 242.5% during 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 during the period. Finally, Royal Bank of Canada grew its holdings in TPI Composites by 70.2% during the second quarter. Royal Bank of Canada now owns 9,338 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 3,852 shares during the period. Institutional investors and hedge funds own 33.89% of the company’s stock.

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TPI Composites Company Profile

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.

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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