Northern Trust Corp cut its position in shares of TPI Composites Inc (NASDAQ:TPIC) by 18.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,243 shares of the industrial products company’s stock after selling 43,555 shares during the quarter. Northern Trust Corp owned approximately 0.56% of TPI Composites worth $4,750,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new position in shares of TPI Composites during the 4th quarter valued at about $60,000. Pearl River Capital LLC bought a new position in shares of TPI Composites during the 4th quarter valued at about $113,000. First Republic Investment Management Inc. bought a new position in shares of TPI Composites during the 3rd quarter valued at about $210,000. LPL Financial LLC bought a new position in shares of TPI Composites during the 3rd quarter valued at about $246,000. Finally, MetLife Investment Advisors LLC grew its position in TPI Composites by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 11,376 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 4,044 shares during the last quarter. Hedge funds and other institutional investors own 69.57% of the company’s stock.
Several research firms recently issued reports on TPIC. JPMorgan Chase & Co. lowered TPI Composites from an “overweight” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Tuesday, February 19th. Zacks Investment Research upgraded TPI Composites from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 14th. BidaskClub upgraded TPI Composites from a “hold” rating to a “buy” rating in a research report on Saturday, March 16th. TheStreet lowered TPI Composites from a “b-” rating to a “c” rating in a research report on Wednesday, January 23rd. Finally, ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $36.94.
Shares of TPIC stock opened at $30.78 on Friday. The company has a market capitalization of $1.08 billion, a PE ratio of 384.75 and a beta of 0.86. TPI Composites Inc has a fifty-two week low of $21.65 and a fifty-two week high of $32.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.51 and a current ratio of 1.53.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Thursday, February 28th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.10). The business had revenue of $290.06 million during the quarter, compared to the consensus estimate of $303.50 million. TPI Composites had a return on equity of 0.98% and a net margin of 0.51%. Research analysts forecast that TPI Composites Inc will post 1.32 earnings per share for the current year.
TPI Composites Company Profile
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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