StockNews.com upgraded shares of TPI Composites (NASDAQ:TPIC - Free Report) from a sell rating to a hold rating in a research report released on Monday.
TPIC has been the topic of a number of other reports. Morgan Stanley reaffirmed an "underweight" rating and issued a $2.00 target price (down from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. Roth Mkm lowered their price objective on shares of TPI Composites from $2.75 to $1.50 and set a "neutral" rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of TPI Composites in a research report on Thursday, December 12th. Finally, Bank of America reduced their target price on TPI Composites from $7.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $3.83.
Read Our Latest Stock Report on TPI Composites
TPI Composites Price Performance
Shares of TPI Composites stock traded up $0.09 on Monday, reaching $1.13. 1,952,615 shares of the company traded hands, compared to its average volume of 1,036,815. The firm has a market capitalization of $53.80 million, a PE ratio of -0.22 and a beta of 1.82. TPI Composites has a 52 week low of $1.01 and a 52 week high of $5.75. The company has a 50 day moving average of $1.55 and a 200 day moving average of $2.70.
TPI Composites (NASDAQ:TPIC - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million for the quarter, compared to analysts' expectations of $364.83 million. As a group, analysts anticipate that TPI Composites will post -0.9 earnings per share for the current year.
Insider Activity
In other news, major shareholder Construction Taahhut A.S. Dere bought 66,000 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price of $1.44 per share, for a total transaction of $95,040.00. Following the completion of the acquisition, the insider now owns 4,295,232 shares of the company's stock, valued at approximately $6,185,134.08. This trade represents a 1.56 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 205,000 shares of company stock valued at $307,050. 3.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On TPI Composites
Several institutional investors have recently added to or reduced their stakes in TPIC. Erste Asset Management GmbH bought a new position in shares of TPI Composites during the third quarter valued at about $7,854,000. Brightline Capital Management LLC increased its holdings in TPI Composites by 2.5% during the 4th quarter. Brightline Capital Management LLC now owns 1,700,000 shares of the industrial products company's stock valued at $3,213,000 after purchasing an additional 42,000 shares during the period. Bank of America Corp DE raised its position in TPI Composites by 1.0% during the 4th quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company's stock valued at $2,085,000 after purchasing an additional 10,611 shares during the last quarter. Geode Capital Management LLC raised its position in TPI Composites by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company's stock valued at $1,931,000 after purchasing an additional 16,034 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in TPI Composites by 8.2% in the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company's stock worth $548,000 after buying an additional 22,005 shares during the period. Hedge funds and other institutional investors own 75.24% of the company's stock.
About TPI Composites
(
Get Free Report)
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.
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