TPI Composites Inc (NASDAQ:TPIC) major shareholder Element Partners Ii Lp sold 45,021 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $26.97, for a total value of $1,214,216.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Element Partners Ii Lp also recently made the following trade(s):
- On Thursday, August 16th, Element Partners Ii Lp sold 37,100 shares of TPI Composites stock. The stock was sold at an average price of $26.48, for a total value of $982,408.00.
Shares of NASDAQ TPIC traded up $0.11 during mid-day trading on Monday, reaching $26.97. The company had a trading volume of 271,200 shares, compared to its average volume of 280,890. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.65. TPI Composites Inc has a one year low of $16.35 and a one year high of $32.22. The stock has a market capitalization of $946.69 million, a P/E ratio of 21.42 and a beta of -0.70.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.09). TPI Composites had a return on equity of 17.01% and a net margin of 3.17%. The company had revenue of $230.61 million during the quarter, compared to the consensus estimate of $240.29 million. equities research analysts forecast that TPI Composites Inc will post 0.25 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY bought a new position in TPI Composites in the second quarter valued at about $162,000. Citadel Advisors LLC bought a new position in TPI Composites in the second quarter valued at about $208,000. MetLife Investment Advisors LLC bought a new position in TPI Composites in the second quarter valued at about $214,000. Sei Investments Co. grew its position in TPI Composites by 40.3% in the first quarter. Sei Investments Co. now owns 7,992 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 2,294 shares during the last quarter. Finally, Hartford Investment Management Co. bought a new position in TPI Composites in the second quarter valued at about $260,000. Institutional investors own 42.93% of the company’s stock.
Several research firms have weighed in on TPIC. JMP Securities increased their price objective on TPI Composites from $36.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 8th. Canaccord Genuity increased their price objective on TPI Composites from $26.00 to $35.50 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Roth Capital set a $37.00 price objective on TPI Composites and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Craig Hallum raised their price target on TPI Composites from $33.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Finally, BidaskClub cut TPI Composites from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. TPI Composites presently has an average rating of “Buy” and a consensus price target of $33.61.
About TPI Composites
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.
Read More: Diversification For Individual Investors
Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.