Steven C. Lockard Sells 158,593 Shares of TPI Composites, Inc. (NASDAQ:TPIC) Stock

TPI Composites, Inc. (NASDAQ:TPIC) Director Steven C. Lockard sold 158,593 shares of TPI Composites stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $45.00, for a total value of $7,136,685.00. Following the completion of the sale, the director now owns 584,295 shares in the company, valued at $26,293,275. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of NASDAQ:TPIC traded down $1.53 during trading on Thursday, hitting $41.36. The company’s stock had a trading volume of 810,717 shares, compared to its average volume of 943,856. The business has a 50 day moving average price of $52.73 and a two-hundred day moving average price of $52.75. The company has a market capitalization of $1.52 billion, a PE ratio of -53.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.29 and a current ratio of 1.32. TPI Composites, Inc. has a fifty-two week low of $17.01 and a fifty-two week high of $81.36.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, May 6th. The industrial products company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.05. The business had revenue of $404.68 million during the quarter, compared to the consensus estimate of $414.90 million. TPI Composites had a negative net margin of 1.54% and a positive return on equity of 7.60%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. As a group, equities analysts expect that TPI Composites, Inc. will post 0.71 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on TPIC. Stifel Nicolaus began coverage on TPI Composites in a report on Tuesday, April 13th. They set a “buy” rating and a $70.00 target price on the stock. Canaccord Genuity lifted their price target on shares of TPI Composites from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 4th. Morgan Stanley reduced their price target on shares of TPI Composites from $77.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 16th. Zacks Investment Research raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Evercore ISI assumed coverage on shares of TPI Composites in a research report on Monday, April 26th. They set an “outperform” rating and a $65.00 price target on the stock. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $60.33.

Several large investors have recently bought and sold shares of the business. Sowell Financial Services LLC grew its stake in shares of TPI Composites by 4.9% in the fourth quarter. Sowell Financial Services LLC now owns 3,257 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 153 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of TPI Composites by 2.0% during the fourth quarter. Baird Financial Group Inc. now owns 21,727 shares of the industrial products company’s stock worth $1,147,000 after purchasing an additional 428 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of TPI Composites by 5.0% during the fourth quarter. Boston Trust Walden Corp now owns 10,577 shares of the industrial products company’s stock worth $558,000 after purchasing an additional 505 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of TPI Composites by 3.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 18,532 shares of the industrial products company’s stock worth $978,000 after purchasing an additional 550 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of TPI Composites during the first quarter worth $31,000. Institutional investors and hedge funds own 76.83% of the company’s stock.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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Insider Buying and Selling by Quarter for TPI Composites (NASDAQ:TPIC)

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