Cowen and Company set a $26.00 target price on TPI Composites, Inc. (NASDAQ:TPIC) in a research report report published on Friday. The brokerage currently has a buy rating on the industrial products company’s stock.
TPIC has been the topic of a number of other reports. Zacks Investment Research cut shares of TPI Composites from a hold rating to a sell rating in a research report on Wednesday, July 19th. Barclays PLC set a $23.00 price target on shares of TPI Composites and gave the company a buy rating in a research report on Monday, May 8th. Finally, Roth Capital set a $23.00 price target on shares of TPI Composites and gave the company a buy rating in a research report on Saturday, May 27th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $22.71.
Shares of TPI Composites (TPIC) traded up 0.11% during midday trading on Friday, reaching $19.04. 43,194 shares of the company traded hands. The stock has a market capitalization of $624.49 million and a price-to-earnings ratio of 38.08. The company’s 50 day moving average is $18.43 and its 200-day moving average is $18.14. TPI Composites has a 12 month low of $13.27 and a 12 month high of $23.30.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $191.60 million for the quarter, compared to analyst estimates of $213.26 million. TPI Composites had a net margin of 2.03% and a return on equity of 51.28%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned ($0.16) earnings per share. Equities research analysts forecast that TPI Composites will post $0.63 earnings per share for the current fiscal year.
In other news, major shareholder Element Partners Ii Intrafund sold 1,132,572 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $16.35, for a total transaction of $18,517,552.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jack A. Henry bought 4,400 shares of TPI Composites stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average cost of $16.82 per share, for a total transaction of $74,008.00. Following the completion of the transaction, the director now owns 4,400 shares of the company’s stock, valued at approximately $74,008. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 2,513,253 shares of company stock worth $41,091,687. Corporate insiders own 73.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TPIC. Schwab Charles Investment Management Inc. boosted its position in TPI Composites by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 24,734 shares of the industrial products company’s stock worth $471,000 after buying an additional 1,368 shares during the last quarter. Perigon Wealth Management LLC boosted its position in TPI Composites by 14.6% in the first quarter. Perigon Wealth Management LLC now owns 15,441 shares of the industrial products company’s stock worth $294,000 after buying an additional 1,965 shares during the last quarter. First Trust Advisors LP boosted its position in TPI Composites by 16.5% in the second quarter. First Trust Advisors LP now owns 35,042 shares of the industrial products company’s stock worth $648,000 after buying an additional 4,974 shares during the last quarter. Wells Fargo & Company MN boosted its position in TPI Composites by 260.5% in the first quarter. Wells Fargo & Company MN now owns 7,750 shares of the industrial products company’s stock worth $147,000 after buying an additional 5,600 shares during the last quarter. Finally, Capital Management Associates NY boosted its position in TPI Composites by 31.6% in the second quarter. Capital Management Associates NY now owns 25,000 shares of the industrial products company’s stock worth $462,000 after buying an additional 6,000 shares during the last quarter. 25.25% of the stock is currently owned by institutional investors and hedge funds.
TPI Composites Company Profile
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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