ValuEngine Lowers TPI Composites (NASDAQ:TPIC) to Hold

ValuEngine cut shares of TPI Composites (NASDAQ:TPIC) from a buy rating to a hold rating in a research report released on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently issued reports on TPIC. Zacks Investment Research cut shares of TPI Composites from a buy rating to a hold rating in a research report on Thursday, May 9th. BidaskClub upgraded shares of TPI Composites from a hold rating to a buy rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $35.50.

Shares of NASDAQ TPIC traded down $0.74 during midday trading on Thursday, hitting $24.50. 167,114 shares of the company traded hands, compared to its average volume of 298,327. TPI Composites has a 12-month low of $19.54 and a 12-month high of $32.74. The company has a current ratio of 1.33, a quick ratio of 1.31 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average of $25.12. The company has a market capitalization of $862.68 million, a price-to-earnings ratio of 306.25 and a beta of 1.53.

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

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TCI Wealth Advisors Inc. bought a new stake in shares of TPI Composites in the 2nd quarter valued at about $25,000. Great West Life Assurance Co. Can purchased a new position in TPI Composites during the fourth quarter worth about $64,000. Legal & General Group Plc boosted its stake in 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 buying an additional 617 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in 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 buying an additional 328 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in 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 buying an additional 3,046 shares during the period. Institutional investors and hedge funds own 80.30% 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. 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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