TPI Composites, Inc. (NASDAQ: TPIC) Given the consensus recommendation to “Buy” by brokerage firms
TPI Composites, Inc. (NASDAQ: TPIC) earned an average “Buy” rating of the fourteen analysts currently covering the stock, Marketbeat reports. One research analyst rated the stock with a sell recommendation, four assigned a keep recommendation, and eight issued a buy recommendation on the company. The 12-month average target price among brokers who updated their equity coverage in the past year is $ 60.27.
Several equity analysts recently commented on TPIC stocks. Morgan Stanley reduced its price target on TPI Composites shares from $ 68.00 to $ 62.00 and set an “overweight” rating for the company in a Tuesday May 18 research note. Zacks Investment Research downgraded TPI Composites shares from a “hold” rating to a “sell” rating in a Friday May 21 research note. Stifel Nicolaus reaffirmed a “buy” note and issued a price target of $ 68.00 on shares of TPI Composites in a research note on Monday, May 17. Piper Sandler launched coverage on TPI Composites shares in a research note on Thursday, June 10. They issued a “neutral” rating and a price target of $ 50.00 for the company. Finally, JPMorgan Chase & Co. lowered its price target for TPI Composites shares from $ 51.00 to $ 46.00 and set a “neutral” rating for the company in a research note on Monday, March 8.
NASDAQ: TPIC opened at $ 47.06 on Friday. The company has a market cap of $ 1.73 billion, a PE ratio of -72.40 and a beta of 1.58. TPI Composites has a one-year low of $ 23.54 and a one-year high of $ 81.36. The company’s fifty-day moving average is $ 47.51. The company has a current ratio of 1.28, a quick ratio of 1.25 and a debt ratio of 0.93.
TPI Composites (NASDAQ: TPIC) last reported its results on Thursday, May 6. The industrials company reported ($ 0.05) EPS for the quarter, beating Thomson Reuters consensus estimate of ($ 0.10) by $ 0.05. The company posted revenue of $ 404.68 million in the quarter, compared to $ 414.90 million expected by analysts. TPI Composites had a negative net margin of 1.18% and a positive return on equity of 13.12%. The company’s quarterly revenue is up 13.5% from the same quarter last year. During the same period of the previous year, the company made EPS ($ 0.01). On average, research analysts predict TPI Composites will post 0.56 EPS for the current fiscal year.
In other TPI Composites news, COO Ramesh Gopalakrishnan sold 1,397 shares in a deal dated Tuesday, June 8. The shares were sold at an average price of $ 45.68, for a total trade of $ 63,814.96. As a result of the sale, the COO now owns 3,728 shares of the company, valued at approximately $ 170,295.04. The sale was disclosed in a legal file with the SEC, accessible through this hyperlink. Additionally, insider Thomas J. Castle sold 25,423 shares in a trade dated Wednesday, May 26. The stock was sold at an average price of $ 49.15, for a total trade of $ 1,249,540.45. As a result of the sale, the insider now directly owns 32,254 shares of the company, valued at approximately $ 1,585,284.10. Disclosure of this sale can be found here. In the past three months, insiders have sold 220,355 shares of the company valued at $ 10,044,534. Insiders own 5.60% of the shares of the company.
A number of large investors have recently changed their holdings in TPIC. Caxton Associates LP purchased a new stake in TPI Composites during the 1st quarter valued at approximately $ 45,189,000. Schroder Investment Management Group increased its stake in TPI Composites shares by 55.3% in the 4th quarter. Schroder Investment Management Group now owns 1,657,828 shares of the industrial products company valued at $ 87,499,000 after purchasing an additional 590,556 shares in the last quarter. BlackRock Inc. increased its stake in TPI Composites shares by 25.9% in the 1st quarter. BlackRock Inc. now owns 2,795,117 shares of the industrials company valued at $ 157,728,000 after purchasing an additional 575,449 shares during the last quarter. Handelsbanken Fonder AB increased its stake in the shares of TPI Composites by 50.7% in the 4th quarter. Handelsbanken Fonder AB now owns 1,384,784 shares of the industrial products company valued at $ 73,089,000 after purchasing an additional 466,130 shares in the last quarter. Finally, Credit Suisse AG increased its stake in the shares of TPI Composites by 1,056.9% in the 4th quarter. Credit Suisse AG now owns 427,118 shares of the industrials company valued at $ 22,543,000 after purchasing an additional 390,200 shares in the last quarter. 80.50% of the shares are currently held by hedge funds and other institutional investors.
TPI Composites Company Profile
TPI Composites, Inc. manufactures and sells composite wind turbine blades and related precision casting and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field inspection and repair services to OEM customers and wind farm owners and operators.
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