TPI Composites, Inc. (NASDAQ:TPIC) COO Ramesh Gopalakrishnan sold 1,397 shares of the business's stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $45.68, for a total transaction of $63,814.96. Following the completion of the transaction, the chief operating officer now owns 3,728 shares of the company's stock, valued at approximately $170,295.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Ramesh Gopalakrishnan also recently made the following trade(s):
- On Thursday, June 3rd, Ramesh Gopalakrishnan sold 6,392 shares of TPI Composites stock. The shares were sold at an average price of $45.25, for a total transaction of $289,238.00.
- On Tuesday, May 18th, Ramesh Gopalakrishnan sold 1,420 shares of TPI Composites stock. The shares were sold at an average price of $44.41, for a total transaction of $63,062.20.
- On Monday, March 15th, Ramesh Gopalakrishnan sold 997 shares of TPI Composites stock. The shares were sold at an average price of $52.30, for a total transaction of $52,143.10.
NASDAQ TPIC traded down $2.00 on Thursday, reaching $44.51. The company had a trading volume of 717,215 shares, compared to its average volume of 884,407. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -67.51 and a beta of 1.58. The company has a quick ratio of 1.25, a current ratio of 1.28 and a debt-to-equity ratio of 0.93. TPI Composites, Inc. has a 1-year low of $20.27 and a 1-year high of $81.36. The stock's fifty day moving average price is $50.20.
TPI Composites (NASDAQ:TPIC) last announced its earnings results on Thursday, May 6th. The industrial products company reported ($0.05) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.10) by $0.05. The firm had revenue of $404.68 million during the quarter, compared to analyst estimates of $414.90 million. TPI Composites had a negative net margin of 1.18% and a positive return on equity of 13.12%. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS. Research analysts anticipate that TPI Composites, Inc. will post 0.54 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in TPI Composites by 25.9% in the 1st quarter. BlackRock Inc. now owns 2,795,117 shares of the industrial products company's stock worth $157,728,000 after purchasing an additional 575,449 shares during the period. Schroder Investment Management Group boosted its stake in TPI Composites by 8.0% in the 1st quarter. Schroder Investment Management Group now owns 1,789,718 shares of the industrial products company's stock worth $100,994,000 after purchasing an additional 131,890 shares during the period. Handelsbanken Fonder AB boosted its stake in TPI Composites by 50.7% in the 4th quarter. Handelsbanken Fonder AB now owns 1,384,784 shares of the industrial products company's stock worth $73,089,000 after purchasing an additional 466,130 shares during the period. Morgan Stanley boosted its stake in TPI Composites by 22.5% in the 1st quarter. Morgan Stanley now owns 1,177,091 shares of the industrial products company's stock worth $66,424,000 after purchasing an additional 215,940 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in TPI Composites by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 841,605 shares of the industrial products company's stock worth $44,419,000 after purchasing an additional 7,960 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on TPIC. Morgan Stanley dropped their target price on shares of TPI Composites from $68.00 to $62.00 and set an "overweight" rating for the company in a research report on Tuesday, May 18th. JPMorgan Chase & Co. dropped their target price on shares of TPI Composites from $51.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday, March 8th. Stifel Nicolaus reiterated a "buy" rating and set a $68.00 target price on shares of TPI Composites in a research report on Monday, May 17th. Canaccord Genuity upped their target price on shares of TPI Composites from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, February 26th. Finally, Evercore ISI began coverage on shares of TPI Composites in a research report on Monday, April 19th. They issued an "outperform" rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of "Buy" and an average price target of $58.92.
TPI Composites Company Profile
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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