TPI Composites (NASDAQ:TPIC)'s stock had its "buy" rating reiterated by analysts at Canaccord Genuity in a research note issued on Friday, AnalystRatings.com reports. They presently have a $35.00 target price on the industrial products company's stock. Canaccord Genuity's price objective indicates a potential upside of 34.31% from the stock's current price.
Several other analysts have also weighed in on TPIC. JPMorgan Chase & Co. lowered TPI Composites from an "overweight" rating to a "neutral" rating and set a $26.00 price objective on the stock. in a research note on Thursday, July 9th. Raymond James raised their price objective on TPI Composites from $26.00 to $32.00 and gave the company a "strong-buy" rating in a research note on Friday, August 7th. Morgan Stanley raised their price objective on TPI Composites from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Zacks Investment Research raised TPI Composites from a "sell" rating to a "hold" rating in a research note on Friday, August 14th. Finally, BTIG Research started coverage on TPI Composites in a research note on Monday, June 15th. They set a "buy" rating and a $30.00 price target on the stock. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. TPI Composites currently has a consensus rating of "Buy" and a consensus price target of $30.45.
Shares of NASDAQ TPIC opened at $26.06 on Friday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.30 and a current ratio of 1.33. TPI Composites has a 52 week low of $9.19 and a 52 week high of $33.58. The stock has a market capitalization of $921.14 million, a P/E ratio of -12.84 and a beta of 1.66. The stock's fifty day moving average is $29.45 and its 200 day moving average is $22.05.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.13). The business had revenue of $373.80 million during the quarter, compared to analyst estimates of $303.60 million. TPI Composites had a negative net margin of 4.69% and a negative return on equity of 7.79%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.05 earnings per share. Equities research analysts forecast that TPI Composites will post 0.54 earnings per share for the current year.
In other TPI Composites news, insider Thomas J. Castle sold 2,572 shares of TPI Composites stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $30.05, for a total value of $77,288.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel G. Weiss sold 68,392 shares of TPI Composites stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $27.69, for a total value of $1,893,774.48. Over the last ninety days, insiders sold 166,113 shares of company stock worth $5,005,529. 18.30% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Atticus Wealth Management LLC bought a new stake in TPI Composites in the second quarter worth approximately $33,000. Point72 Hong Kong Ltd bought a new stake in TPI Composites in the second quarter worth approximately $35,000. Sowell Financial Services LLC bought a new stake in TPI Composites in the first quarter worth approximately $48,000. Citizens Financial Group Inc RI increased its holdings in TPI Composites by 19.2% in the second quarter. Citizens Financial Group Inc RI now owns 2,383 shares of the industrial products company's stock worth $56,000 after purchasing an additional 383 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of TPI Composites by 10,662.9% during the second quarter. Bank of Montreal Can now owns 3,767 shares of the industrial products company's stock valued at $90,000 after acquiring an additional 3,732 shares in the last quarter. Institutional investors and hedge funds own 75.46% 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, Africa, and India.
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