TPI Composites Inc (TPIC) Given Average Rating of “Buy” by Brokerages

TPI Composites Inc (NASDAQ:TPIC) has been assigned an average rating of “Buy” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $36.06.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. UBS Group set a $30.00 price target on shares of TPI Composites and gave the stock a “buy” rating in a research note on Friday, November 9th. Cowen set a $33.00 price target on shares of TPI Composites and gave the stock a “buy” rating in a research note on Thursday, November 8th. Finally, JMP Securities set a $39.00 price target on shares of TPI Composites and gave the stock a “buy” rating in a research note on Thursday, November 8th.

Shares of TPIC opened at $25.53 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.55. The firm has a market capitalization of $881.06 million, a price-to-earnings ratio of 20.42 and a beta of 0.13. TPI Composites has a 1 year low of $16.35 and a 1 year high of $32.22.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.34. The company had revenue of $255.00 million for the quarter, compared to analysts’ expectations of $258.35 million. TPI Composites had a net margin of 2.03% and a return on equity of 5.74%. TPI Composites’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. As a group, equities research analysts expect that TPI Composites will post 0.36 EPS for the current year.

In related news, major shareholder Element Partners Ii Intrafund sold 223,182 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $28.56, for a total value of $6,374,077.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael Lawrence Derosa sold 10,514 shares of the business’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $25.37, for a total transaction of $266,740.18. Following the completion of the sale, the director now owns 6,620 shares in the company, valued at $167,949.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,450,231 shares of company stock worth $64,905,062. Corporate insiders own 58.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. First Quadrant L P CA lifted its holdings in TPI Composites by 155.0% in the 3rd quarter. First Quadrant L P CA now owns 4,852 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 2,949 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in TPI Composites in the 2nd quarter valued at about $162,000. Citadel Advisors LLC purchased a new position in TPI Composites in the 2nd quarter valued at about $208,000. MetLife Investment Advisors LLC purchased a new position in TPI Composites in the 2nd quarter valued at about $214,000. Finally, First Republic Investment Management Inc. purchased a new position in TPI Composites in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 54.72% 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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