TPI Composites (NASDAQ:TPIC) Lifted to “Buy” at ValuEngine

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TPI Composites (NASDAQ:TPIC) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, September 17th, ValuEngine reports.

Several other equities analysts have also commented on TPIC. JMP Securities dropped 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 research report on Tuesday, September 10th. Raymond James raised shares of TPI Composites from an “outperform” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, August 20th. BidaskClub raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Canaccord Genuity dropped their price objective on shares of TPI Composites from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Craig Hallum dropped their price objective on shares of TPI Composites from $37.00 to $31.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $29.73.

Shares of TPIC traded down $0.65 on Tuesday, hitting $18.53. 387,414 shares of the stock traded hands, compared to its average volume of 498,869. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.27. The stock’s 50 day moving average is $18.34 and its two-hundred day moving average is $23.36. TPI Composites has a 1 year low of $16.80 and a 1 year high of $32.74.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $330.77 million for the quarter, compared to the consensus estimate of $330.90 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. On average, sell-side 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 on Monday, August 26th. The shares were purchased at an average cost of $17.73 per share, for a total transaction of $50,051.79. Following the purchase, the president now directly owns 67,676 shares of the company’s stock, valued at approximately $1,199,895.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 20.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of TPIC. BlackRock Inc. lifted its position in shares of TPI Composites by 61.0% in the 2nd quarter. BlackRock Inc. now owns 1,975,173 shares of the industrial products company’s stock worth $48,826,000 after buying an additional 748,204 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of TPI Composites in the 1st quarter worth about $18,514,000. Redwood Capital Management LLC lifted its position in shares of TPI Composites by 81.4% in the 2nd quarter. Redwood Capital Management LLC now owns 761,408 shares of the industrial products company’s stock worth $18,822,000 after buying an additional 341,670 shares during the last quarter. Bank of New York Mellon Corp lifted its position in TPI Composites by 24.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,456,149 shares of the industrial products company’s stock valued at $35,995,000 after purchasing an additional 284,649 shares during the last quarter. Finally, Scout Investments Inc. bought a new stake in TPI Composites in the 2nd quarter valued at about $5,949,000. Institutional investors own 86.88% 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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