TPI Composites Inc (NASDAQ:TPIC) Director Michael Lawrence Derosa sold 123,435 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $26.75, for a total transaction of $3,301,886.25. Following the transaction, the director now owns 6,620 shares in the company, valued at $177,085. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
TPI Composites stock opened at $26.97 on Tuesday. 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 1 year low of $16.35 and a 1 year high of $32.22. The stock has a market cap of $946.69 million, a price-to-earnings ratio of 21.42 and a beta of -0.70.
TPI Composites (NASDAQ:TPIC) last released its earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). TPI Composites had a net margin of 3.17% and a return on equity of 17.01%. The business had revenue of $230.61 million for the quarter, compared to analyst estimates of $240.29 million. analysts forecast that TPI Composites Inc will post 0.25 earnings per share for the current year.
TPIC has been the topic of a number of research reports. Canaccord Genuity reiterated a “buy” rating and set a $26.00 target price on shares of TPI Composites in a research report on Friday, April 27th. BidaskClub upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. ValuEngine raised TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. UBS Group raised TPI Composites from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $23.00 to $31.00 in a report on Wednesday, June 20th. Finally, Roth Capital set a $37.00 price objective on TPI Composites and gave the stock a “buy” rating in a report on Tuesday, July 10th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. TPI Composites presently has a consensus rating of “Buy” and a consensus target price of $33.61.
A number of institutional investors have recently added to or reduced their stakes in TPIC. Metropolitan Life Insurance Co. NY acquired a new position in TPI Composites in the second quarter valued at about $162,000. Sei Investments Co. lifted its stake 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 buying an additional 2,294 shares during the period. Citadel Advisors LLC acquired a new position in TPI Composites in the second quarter valued at about $208,000. MetLife Investment Advisors LLC acquired a new stake in shares of TPI Composites in the 2nd quarter valued at approximately $214,000. Finally, Koch Industries Inc. acquired a new stake in shares of TPI Composites in the 1st quarter valued at approximately $215,000. Institutional investors own 42.93% of the company’s stock.
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.
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