TPI Composites (NASDAQ:TPIC) Given New $27.00 Price Target at UBS Group

TPI Composites (NASDAQ:TPIC) had its target price decreased by UBS Group from $29.00 to $27.00 in a report issued on Friday morning, AnalystRatings.com reports. UBS Group currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also issued reports on the stock. Craig Hallum lowered their price target on shares of TPI Composites from $37.00 to $31.00 and set an in-line rating for the company in a report on Thursday, August 8th. Benchmark began coverage on shares of TPI Composites in a report on Friday, October 4th. They set a buy rating and a $30.00 price target for the company. BidaskClub upgraded shares of TPI Composites from a sell rating to a hold rating in a report on Saturday, September 14th. JMP Securities lowered their price target on shares of TPI Composites from $34.00 to $25.00 and set a market outperform rating for the company in a report on Tuesday, September 10th. Finally, Roth Capital lowered their price target on shares of TPI Composites from $34.00 to $28.00 and set a buy rating for the company in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $29.73.

TPI Composites stock traded down $0.65 during mid-day trading on Friday, hitting $18.53. 387,414 shares of the stock were exchanged, compared to its average volume of 498,869. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. TPI Composites has a 12 month low of $16.80 and a 12 month high of $32.74. The firm’s fifty day simple moving average is $18.34 and its two-hundred day simple moving average is $23.36.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.33. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. The firm had revenue of $330.77 million during the quarter, compared to analyst estimates of $330.90 million. During the same quarter last year, the business earned ($0.12) EPS. The company’s revenue was up 43.4% compared to the same quarter last year. Equities analysts predict that TPI Composites will post 0.03 EPS for the current year.

In related news, President William E. Siwek acquired 2,823 shares of TPI Composites stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $17.73 per share, with a total value of $50,051.79. Following the transaction, the president now directly owns 67,676 shares in the company, valued at approximately $1,199,895.48. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 20.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its position in shares of 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 worth $323,000 after buying an additional 620 shares during the period. CoreCommodity Management LLC grew its position in TPI Composites by 4.0% in 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 during the period. TCI Wealth Advisors Inc. acquired a new stake in TPI Composites in the 2nd quarter valued at $25,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in TPI Composites by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,728 shares of the industrial products company’s stock valued at $735,000 after purchasing an additional 1,182 shares during the period. Finally, Macquarie Group Ltd. grew its position in TPI Composites by 18.9% in the 2nd quarter. Macquarie Group Ltd. now owns 8,786 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 1,397 shares during the period. 86.88% of the stock is owned by institutional investors.

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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