Evercore ISI Begins Coverage on TPI Composites (NASDAQ:TPIC)

Analysts at Evercore ISI began coverage on shares of TPI Composites (NASDAQ:TPIC) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set an “outperform” rating on the industrial products company’s stock.

TPIC has been the topic of several other research reports. Canaccord Genuity lifted their target price on TPI Composites from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 4th. Stifel Nicolaus initiated coverage on TPI Composites in a research report on Tuesday, April 13th. They set a “buy” rating and a $70.00 target price on the stock. Roth Capital lifted their target price on TPI Composites from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 2nd. Raymond James cut TPI Composites from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $44.00 to $67.00 in a research report on Friday, January 8th. Finally, Craig Hallum cut TPI Composites from a “buy” rating to a “hold” rating in a research report on Friday, February 26th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $59.91.

Shares of NASDAQ TPIC traded down $0.99 during midday trading on Monday, hitting $48.70. 635,499 shares of the stock traded hands, compared to its average volume of 990,972. The company has a market cap of $1.79 billion, a PE ratio of -63.25 and a beta of 1.67. TPI Composites has a one year low of $14.45 and a one year high of $81.36. The business has a 50 day moving average price of $51.13 and a two-hundred day moving average price of $50.53. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.29 and a current ratio of 1.32.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, February 25th. The industrial products company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.13). TPI Composites had a negative net margin of 1.54% and a positive return on equity of 7.60%. As a group, equities research analysts forecast that TPI Composites will post 0.71 EPS for the current fiscal year.

In other TPI Composites news, CFO Bryan Robert Schumaker sold 52,614 shares of the business’s stock in a transaction on Tuesday, March 2nd. The stock was sold at an average price of $50.65, for a total value of $2,664,899.10. Following the sale, the chief financial officer now directly owns 53,684 shares in the company, valued at $2,719,094.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Ramesh Gopalakrishnan sold 997 shares of the business’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $52.30, for a total value of $52,143.10. Following the sale, the chief operating officer now owns 10,905 shares in the company, valued at $570,331.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,716 shares of company stock worth $3,036,334. Corporate insiders own 18.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of TPI Composites by 24,650.0% in the first quarter. FMR LLC now owns 49,500 shares of the industrial products company’s stock valued at $1,417,000 after acquiring an additional 49,300 shares during the period. Voloridge Investment Management LLC bought a new position in shares of TPI Composites in the third quarter valued at approximately $399,000. Schonfeld Strategic Advisors LLC bought a new position in shares of TPI Composites in the third quarter valued at approximately $599,000. Tao Capital Management LP bought a new position in shares of TPI Composites in the third quarter valued at approximately $156,000. Finally, Sei Investments Co. boosted its position in shares of TPI Composites by 42.3% in the third quarter. Sei Investments Co. now owns 23,434 shares of the industrial products company’s stock valued at $678,000 after acquiring an additional 6,965 shares during the period. 76.83% of the stock is currently owned by hedge funds and other institutional investors.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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