TPI Composites (TPIC) Stock Rating Lowered by BidaskClub

TPI Composites (NASDAQ:TPIC) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday, January 6th.

Several other brokerages also recently issued reports on TPIC. Zacks Investment Research upgraded TPI Composites from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, October 11th. JPMorgan Chase & Co. upgraded TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 price objective on the stock in a research report on Thursday, November 30th. Canaccord Genuity upped their price objective on TPI Composites from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, November 6th. JMP Securities assumed coverage on TPI Composites in a research note on Thursday, November 16th. They issued an “outperform” rating and a $33.00 target price for the company. Finally, ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $27.00.

Shares of TPI Composites (TPIC) opened at $20.98 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $713.53, a price-to-earnings ratio of 20.57 and a beta of -1.43. TPI Composites has a 12-month low of $15.26 and a 12-month high of $26.00.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.36. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. The company had revenue of $243.35 million for the quarter, compared to the consensus estimate of $252.42 million. During the same period in the previous year, the business earned $0.08 earnings per share. TPI Composites’s quarterly revenue was up 22.3% compared to the same quarter last year. equities analysts predict that TPI Composites will post 1.3 EPS for the current year.

In other TPI Composites news, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $18.79, for a total transaction of $608,570.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel G. Weiss sold 51,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $19.14, for a total value of $976,140.00. Following the sale, the director now owns 2,880 shares of the company’s stock, valued at $55,123.20. The disclosure for this sale can be found here. Corporate insiders own 73.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP grew its stake in shares of TPI Composites by 78.2% in the third quarter. GSA Capital Partners LLP now owns 25,625 shares of the industrial products company’s stock valued at $572,000 after buying an additional 11,245 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in shares of TPI Composites in the third quarter valued at about $807,000. Cornerstone Capital Management Holdings LLC. grew its stake in shares of TPI Composites by 187.8% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 127,200 shares of the industrial products company’s stock valued at $2,841,000 after buying an additional 83,000 shares in the last quarter. OxFORD Asset Management LLP grew its stake in shares of TPI Composites by 125.9% in the third quarter. OxFORD Asset Management LLP now owns 132,018 shares of the industrial products company’s stock valued at $2,946,000 after buying an additional 73,573 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of TPI Composites in the third quarter valued at about $945,000. Institutional investors and hedge funds own 35.12% 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.

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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