TPI Composites (NASDAQ:TPIC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other equities analysts also recently issued reports on TPIC. JMP Securities started coverage on TPI Composites in a report on Thursday, November 16th. They issued an “outperform” rating and a $33.00 price target for the company. Zacks Investment Research downgraded TPI Composites from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. JPMorgan Chase & Co. raised TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 price target for the company in a report on Thursday, November 30th. BidaskClub raised TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Finally, Craig Hallum started coverage on TPI Composites in a report on Tuesday, January 16th. They issued a “buy” rating and a $33.00 price target for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $27.38.
Shares of TPI Composites (NASDAQ TPIC) traded up $0.34 during trading on Tuesday, hitting $22.89. The stock had a trading volume of 386,685 shares, compared to its average volume of 172,986. TPI Composites has a 1-year low of $15.26 and a 1-year high of $26.00. The firm has a market capitalization of $759.95 and a P/E ratio of 6.79. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.93 and a current ratio of 1.34.
In related news, Director Daniel G. Weiss sold 51,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $19.14, for a total value of $976,140.00. Following the completion of the transaction, the director now directly owns 2,880 shares of the company’s stock, valued at $55,123.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the company’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 value of $608,570.52. The disclosure for this sale can be found here. Corporate insiders own 73.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Nationwide Fund Advisors lifted its stake in TPI Composites by 85.8% in the second quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock valued at $112,000 after buying an additional 2,788 shares during the last quarter. Royal Bank of Canada lifted its stake in TPI Composites by 70.2% in the second quarter. Royal Bank of Canada now owns 9,338 shares of the industrial products company’s stock valued at $172,000 after buying an additional 3,852 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in TPI Composites by 310.3% in the second quarter. The Manufacturers Life Insurance Company now owns 10,011 shares of the industrial products company’s stock valued at $185,000 after buying an additional 7,571 shares during the last quarter. Trexquant Investment LP purchased a new stake in TPI Composites in the third quarter valued at approximately $211,000. Finally, Ellington Management Group LLC purchased a new stake in TPI Composites in the fourth quarter valued at approximately $221,000. Institutional investors own 38.68% 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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