TPI Composites Inc (TPIC) Director Sells $738,802.35 in Stock

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TPI Composites Inc (NASDAQ:TPIC) Director Michael Lawrence Derosa sold 26,433 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $27.95, for a total transaction of $738,802.35. Following the completion of the sale, the director now owns 6,620 shares of the company’s stock, valued at $185,029. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Michael Lawrence Derosa also recently made the following trade(s):

  • On Tuesday, September 4th, Michael Lawrence Derosa sold 39,400 shares of TPI Composites stock. The stock was sold at an average price of $27.34, for a total transaction of $1,077,196.00.
  • On Wednesday, August 29th, Michael Lawrence Derosa sold 21,722 shares of TPI Composites stock. The stock was sold at an average price of $28.47, for a total transaction of $618,425.34.
  • On Monday, August 27th, Michael Lawrence Derosa sold 34,200 shares of TPI Composites stock. The stock was sold at an average price of $28.68, for a total transaction of $980,856.00.
  • On Friday, August 24th, Michael Lawrence Derosa sold 145,682 shares of TPI Composites stock. The stock was sold at an average price of $28.56, for a total transaction of $4,160,677.92.
  • On Wednesday, August 22nd, Michael Lawrence Derosa sold 66,722 shares of TPI Composites stock. The stock was sold at an average price of $28.21, for a total transaction of $1,882,227.62.
  • On Monday, August 20th, Michael Lawrence Derosa sold 123,435 shares of TPI Composites stock. The stock was sold at an average price of $26.75, for a total transaction of $3,301,886.25.

TPIC stock opened at $27.30 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.65 and a quick ratio of 1.63. TPI Composites Inc has a 52-week low of $16.35 and a 52-week high of $32.22. The stock has a market cap of $943.59 million, a price-to-earnings ratio of 21.81 and a beta of -0.91.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.09). TPI Composites had a net margin of 3.17% and a return on equity of 17.01%. The firm had revenue of $230.61 million for the quarter, compared to the consensus estimate of $240.29 million. equities analysts anticipate that TPI Composites Inc will post 0.25 EPS for the current fiscal year.

A number of brokerages recently issued reports on TPIC. ValuEngine upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. Craig Hallum upped their price objective on shares of TPI Composites from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Cowen set a $35.00 price objective on shares of TPI Composites and gave the stock a “buy” rating in a report on Wednesday, August 8th. Canaccord Genuity upped their price target on shares of TPI Composites from $26.00 to $35.50 and gave the company a “buy” rating in a report on Wednesday, July 11th. Finally, TheStreet cut shares of TPI Composites from a “b-” rating to a “c” rating in a report on Wednesday, August 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $33.61.

Several institutional investors and hedge funds have recently made changes to their positions in TPIC. Hood River Capital Management LLC acquired a new position in shares of TPI Composites during the second quarter valued at about $20,767,000. Handelsbanken Fonder AB raised its position in shares of TPI Composites by 46.0% during the first quarter. Handelsbanken Fonder AB now owns 1,714,151 shares of the industrial products company’s stock valued at $38,483,000 after buying an additional 540,193 shares during the last quarter. Trigran Investments Inc. raised its position in shares of TPI Composites by 130.7% during the second quarter. Trigran Investments Inc. now owns 848,543 shares of the industrial products company’s stock valued at $24,811,000 after buying an additional 480,751 shares during the last quarter. BlackRock Inc. raised its position in shares of TPI Composites by 38.7% during the second quarter. BlackRock Inc. now owns 959,762 shares of the industrial products company’s stock valued at $28,063,000 after buying an additional 267,717 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of TPI Composites by 771.6% during the second quarter. Russell Investments Group Ltd. now owns 243,499 shares of the industrial products company’s stock valued at $7,122,000 after buying an additional 215,563 shares during the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

TPI Composites Company Profile

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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