TPI Composites (NASDAQ:TPIC) Rating Increased to Strong-Buy at Raymond James

TPI Composites (NASDAQ:TPIC) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage presently has a $32.00 price objective on the industrial products company’s stock. Raymond James’ price target indicates a potential upside of 74.86% from the stock’s current price.

TPIC has been the topic of a number of other reports. Canaccord Genuity cut their price objective on TPI Composites from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, August 9th. BidaskClub downgraded TPI Composites from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine downgraded TPI Composites from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Craig Hallum dropped their target price on TPI Composites from $37.00 to $31.00 and set an “in-line” rating on the stock in a report on Thursday, August 8th. Finally, Roth Capital dropped their target price on TPI Composites from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $32.90.

TPI Composites stock opened at $18.30 on Tuesday. The stock’s 50-day moving average is $23.56 and its 200-day moving average is $26.41. The company has a market cap of $643.32 million, a price-to-earnings ratio of 228.75 and a beta of 1.53. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.27 and a quick ratio of 1.25. TPI Composites has a 12 month low of $16.92 and a 12 month high of $32.74.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.33. The company had revenue of $330.77 million for the quarter, compared to the consensus estimate of $330.90 million. TPI Composites had a negative return on equity of 5.59% and a negative net margin of 0.82%. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same period last year, the business posted ($0.12) EPS. Research analysts anticipate that TPI Composites will post 0.04 EPS for the current year.

In other TPI Composites news, CEO Steven C. Lockard acquired 5,000 shares of the stock in a transaction on Monday, June 3rd. The stock was purchased at an average price of $21.47 per share, for a total transaction of $107,350.00. Following the purchase, the chief executive officer now directly owns 277,284 shares in the company, valued at $5,953,287.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas J. Castle sold 1,527 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $22.52, for a total value of $34,388.04. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 12,470 shares of company stock worth $270,570. Company insiders own 20.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its stake in TPI Composites by 13.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,758 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 328 shares in the last quarter. Legal & General Group Plc grew its stake in TPI Composites by 28.6% during the 4th quarter. Legal & General Group Plc now owns 2,775 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 617 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in TPI Composites by 5.0% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 13,055 shares of the industrial products company’s stock valued at $323,000 after purchasing an additional 620 shares in the last quarter. Trillium Asset Management LLC grew its stake in TPI Composites by 0.6% during the 1st quarter. Trillium Asset Management LLC now owns 122,207 shares of the industrial products company’s stock valued at $3,498,000 after purchasing an additional 750 shares in the last quarter. Finally, CoreCommodity Management LLC grew its stake in TPI Composites by 4.0% during the 2nd quarter. CoreCommodity Management LLC now owns 21,287 shares of the industrial products company’s stock valued at $526,000 after purchasing an additional 828 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

About TPI Composites

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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