Stifel Financial Corp trimmed its stake in TPI Composites Inc (NASDAQ:TPIC) by 20.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 498,358 shares of the industrial products company’s stock after selling 127,779 shares during the period. Stifel Financial Corp owned 1.42% of TPI Composites worth $9,390,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. TCI Wealth Advisors Inc. lifted its holdings in shares of TPI Composites by 100.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,000 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 1,000 shares during the last quarter. Bank of Montreal Can acquired a new stake in TPI Composites during the 2nd quarter worth about $59,000. Cubist Systematic Strategies LLC acquired a new stake in TPI Composites during the 2nd quarter worth about $63,000. Smithfield Trust Co. raised its stake in shares of TPI Composites by 35.4% during the 3rd quarter. Smithfield Trust Co. now owns 5,003 shares of the industrial products company’s stock valued at $94,000 after buying an additional 1,309 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in shares of TPI Composites in the 2nd quarter valued at about $135,000. 86.26% of the stock is currently owned by institutional investors.
A number of analysts have recently commented on TPIC shares. ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. BidaskClub raised shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Craig Hallum reduced their target price on shares of TPI Composites from $37.00 to $31.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Raymond James raised shares of TPI Composites from an “outperform” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, August 20th. Finally, JMP Securities decreased their target price on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating on the stock in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. TPI Composites has an average rating of “Buy” and a consensus price target of $28.00.
TPI Composites (NASDAQ:TPIC) last posted its earnings results on Wednesday, November 6th. The industrial products company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.19). The company had revenue of $383.84 million during the quarter, compared to analyst estimates of $400.60 million. TPI Composites had a negative net margin of 1.82% and a negative return on equity of 6.29%. The company’s quarterly revenue was up 50.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. Research analysts predict that TPI Composites Inc will post -0.12 EPS for the current year.
TPI Composites Profile
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.
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