TPI Composites (NASDAQ:TPIC) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of TPI Composites (NASDAQ:TPIC) from a hold rating to a buy rating in a research report sent to investors on Tuesday, ValuEngine reports.

TPIC has been the subject of several other reports. BidaskClub upgraded shares of TPI Composites from a sell rating to a hold rating in a research note on Saturday, September 14th. Roth Capital lowered their target price on shares of TPI Composites from $34.00 to $28.00 and set a buy rating for the company in a research note on Friday, August 9th. Canaccord Genuity lowered their target price on shares of TPI Composites from $28.00 to $25.00 and set a buy rating for the company in a research note on Friday, August 9th. JMP Securities lowered their target price on shares of TPI Composites from $34.00 to $25.00 and set a market outperform rating for the company in a research note on Tuesday, September 10th. Finally, Raymond James upgraded shares of TPI Composites from an outperform rating to a strong-buy rating and set a $32.00 target price for the company in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. TPI Composites presently has an average rating of Buy and a consensus price target of $31.50.

Shares of TPIC opened at $19.73 on Tuesday. The company has a market cap of $673.19 million, a price-to-earnings ratio of 246.63 and a beta of 1.71. TPI Composites has a twelve month low of $16.80 and a twelve month high of $32.74. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. The company has a 50 day moving average of $19.05 and a two-hundred day moving average of $24.49.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.33. The company had revenue of $330.77 million during the quarter, compared to the consensus estimate of $330.90 million. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. TPI Composites’s revenue was up 43.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) earnings per share. On average, sell-side analysts expect that TPI Composites will post 0.03 EPS for the current year.

In related news, President William E. Siwek acquired 2,823 shares of the stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $17.73 per share, for a total transaction of $50,051.79. Following the completion of the purchase, the president now owns 67,676 shares of the company’s stock, valued at approximately $1,199,895.48. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 20.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of TPI Composites by 61.0% during the second 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 period. Trigran Investments Inc. lifted its stake in shares of TPI Composites by 11.9% during the second quarter. Trigran Investments Inc. now owns 1,958,285 shares of the industrial products company’s stock worth $48,409,000 after buying an additional 208,625 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of TPI Composites by 9.5% during the second quarter. Handelsbanken Fonder AB now owns 1,898,234 shares of the industrial products company’s stock worth $46,924,000 after buying an additional 164,287 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of TPI Composites by 24.3% during the second quarter. Bank of New York Mellon Corp now owns 1,456,149 shares of the industrial products company’s stock worth $35,995,000 after buying an additional 284,649 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of TPI Composites by 9.2% during the second quarter. Vanguard Group Inc. now owns 1,215,565 shares of the industrial products company’s stock worth $30,049,000 after buying an additional 102,659 shares during the period. Institutional investors and hedge funds own 86.88% of the company’s stock.

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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