UBS Group set a $30.00 price target on TPI Composites (NASDAQ:TPIC) in a research note issued to investors on Friday, www.stocktargetadvisor.com reports. The firm currently has a buy rating on the industrial products company’s stock.
A number of other equities analysts also recently commented on the company. Morgan Stanley lifted their target price on TPI Composites from $29.00 to $31.00 and gave the company a buy rating in a research note on Tuesday, September 11th. BidaskClub upgraded TPI Composites from a hold rating to a buy rating in a research note on Thursday, September 27th. ValuEngine downgraded TPI Composites from a buy rating to a hold rating in a research note on Monday, August 13th. TheStreet upgraded TPI Composites from a c rating to a b- rating in a research note on Monday, July 23rd. Finally, Craig Hallum lifted their target price on TPI Composites from $33.00 to $45.00 and gave the company a buy rating in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. TPI Composites presently has a consensus rating of Buy and an average target price of $34.61.
TPIC stock traded up $0.25 during midday trading on Friday, reaching $25.59. The company had a trading volume of 303,744 shares, compared to its average volume of 328,996. The company has a quick ratio of 1.63, a current ratio of 1.65 and a debt-to-equity ratio of 0.39. TPI Composites has a fifty-two week low of $16.35 and a fifty-two week high of $32.22. The company has a market cap of $945.66 million, a P/E ratio of 20.47 and a beta of 0.13.
TPI Composites (NASDAQ:TPIC) last issued its earnings results on Wednesday, November 7th. The industrial products company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.34. TPI Composites had a return on equity of 17.01% and a net margin of 3.17%. The company had revenue of $255.00 million during the quarter, compared to the consensus estimate of $258.35 million. During the same period in the previous year, the firm posted $0.62 earnings per share. TPI Composites’s quarterly revenue was up .6% compared to the same quarter last year. Analysts expect that TPI Composites will post 0.35 EPS for the current fiscal year.
In other news, Director Daniel G. Weiss sold 48,080 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $27.60, for a total transaction of $1,327,008.00. Following the completion of the transaction, the director now directly owns 6,620 shares in the company, valued at $182,712. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven C. Lockard sold 51,795 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $25.61, for a total value of $1,326,469.95. Following the transaction, the chief executive officer now owns 317,416 shares of the company’s stock, valued at $8,129,023.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,629,265 shares of company stock valued at $71,588,130. Insiders own 58.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Suffolk Capital Management LLC boosted its position in shares of TPI Composites by 19.1% during the third quarter. Suffolk Capital Management LLC now owns 34,957 shares of the industrial products company’s stock worth $998,000 after buying an additional 5,605 shares during the period. Value Holdings Management CO. LLC acquired a new position in shares of TPI Composites during the third quarter worth approximately $633,000. BlackRock Inc. lifted its position in TPI Composites by 8.8% in the third quarter. BlackRock Inc. now owns 1,044,006 shares of the industrial products company’s stock worth $29,807,000 after purchasing an additional 84,244 shares during the period. Bank of New York Mellon Corp lifted its position in TPI Composites by 22.7% in the third quarter. Bank of New York Mellon Corp now owns 702,862 shares of the industrial products company’s stock worth $20,066,000 after purchasing an additional 130,150 shares during the period. Finally, Trillium Asset Management LLC lifted its position in TPI Composites by 5.7% in the third quarter. Trillium Asset Management LLC now owns 123,568 shares of the industrial products company’s stock worth $3,528,000 after purchasing an additional 6,610 shares during the period. Institutional investors and hedge funds own 51.54% of the company’s stock.
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.
Recommended Story: What are the risks of holding treasury bonds?
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.