TPI Composites (TPIC) Rating Lowered to Hold at ValuEngine

TPI Composites (NASDAQ:TPIC) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Other research analysts also recently issued research reports about the stock. Craig Hallum initiated coverage on shares of TPI Composites in a research note on Tuesday, January 16th. They issued a “buy” rating and a $33.00 target price on the stock. BidaskClub raised shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Canaccord Genuity boosted their price objective on shares of TPI Composites from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, November 6th. Zacks Investment Research cut shares of TPI Composites from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Finally, JMP Securities started coverage on shares of TPI Composites in a report on Thursday, November 16th. They set an “outperform” rating and a $33.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. TPI Composites presently has a consensus rating of “Buy” and an average price target of $27.38.

TPI Composites (NASDAQ TPIC) opened at $18.84 on Thursday. The stock has a market cap of $621.70 and a P/E ratio of 18.29. TPI Composites has a 52 week low of $15.26 and a 52 week high of $26.00. 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 (NASDAQ:TPIC) last issued its earnings results on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.36. The firm had revenue of $243.35 million for the quarter, compared to the consensus estimate of $252.42 million. TPI Composites had a net margin of 4.09% and a return on equity of 30.80%. The business’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. research analysts forecast that TPI Composites will post 1.3 EPS for the current year.

In other news, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were 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 available through this hyperlink. Also, Director Daniel G. Weiss sold 51,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $19.14, for a total transaction of $976,140.00. Following the transaction, the director now directly owns 2,880 shares of the company’s stock, valued at $55,123.20. The disclosure for this sale can be found here. 73.70% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsinvest Investeringsforvaltning increased its holdings in TPI Composites by 63.3% during the third quarter. Handelsinvest Investeringsforvaltning now owns 200,000 shares of the industrial products company’s stock valued at $4,468,000 after buying an additional 77,500 shares during the last quarter. Rhumbline Advisers purchased a new stake in TPI Composites during the second quarter valued at approximately $206,000. Vanguard Group Inc. increased its holdings in TPI Composites by 79.9% during the second quarter. Vanguard Group Inc. now owns 485,589 shares of the industrial products company’s stock valued at $8,973,000 after buying an additional 215,680 shares during the last quarter. Alps Advisors Inc. purchased a new stake in TPI Composites during the third quarter valued at approximately $519,000. Finally, FMR LLC increased its holdings in TPI Composites by 45.2% during the second quarter. FMR LLC now owns 1,556,068 shares of the industrial products company’s stock valued at $28,756,000 after buying an additional 484,681 shares during the last quarter. 35.46% of the stock is owned by hedge funds and other institutional investors.

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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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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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