BidaskClub Lowers TPI Composites (NASDAQ:TPIC) to Hold

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BidaskClub lowered shares of TPI Composites (NASDAQ:TPIC) from a buy rating to a hold rating in a research note published on Saturday morning, BidAskClub reports.

TPIC has been the topic of a number of other reports. Zacks Investment Research cut TPI Composites from a buy rating to a hold rating in a research note on Thursday, May 9th. ValuEngine cut TPI Composites from a buy rating to a hold rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. TPI Composites currently has an average rating of Buy and a consensus target price of $35.50.

TPI Composites stock opened at $24.85 on Friday. TPI Composites has a 1-year low of $19.54 and a 1-year high of $32.74. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 1.33. The firm has a market capitalization of $862.68 million, a PE ratio of 310.63 and a beta of 1.53. The company has a fifty day simple moving average of $25.23.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.02. TPI Composites had a negative return on equity of 8.24% and a negative net margin of 1.44%. The company had revenue of $299.78 million for the quarter, compared to analysts’ expectations of $300.16 million. As a group, analysts anticipate that TPI Composites will post -0.07 earnings per share for the current year.

In other TPI Composites news, insider Thomas J. Castle sold 1,527 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $22.52, for a total transaction of $34,388.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen Bransfield acquired 4,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average cost of $22.85 per share, for a total transaction of $91,400.00. Following the acquisition, the director now owns 23,137 shares of the company’s stock, valued at approximately $528,680.45. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 15,400 shares of company stock worth $342,282. 20.30% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. TCI Wealth Advisors Inc. purchased a new position in shares of TPI Composites during the second quarter worth about $25,000. Great West Life Assurance Co. Can purchased a new position in shares of TPI Composites during the fourth quarter worth about $64,000. Legal & General Group Plc grew its holdings in shares of TPI Composites by 28.6% during the fourth quarter. Legal & General Group Plc now owns 2,775 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 617 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of TPI Composites by 13.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 2,758 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 328 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of TPI Composites by 4,759.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,110 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 3,046 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

About TPI Composites

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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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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