TPI Composites Inc (NASDAQ:TPIC) shot up 7.9% during mid-day trading on Friday . The company traded as high as $30.07 and last traded at $29.97. 659,016 shares changed hands during mid-day trading, an increase of 167% from the average session volume of 246,811 shares. The stock had previously closed at $27.77.
A number of brokerages have issued reports on TPIC. Zacks Investment Research lowered shares of TPI Composites from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. BidaskClub raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Saturday, January 5th. ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. TheStreet raised shares of TPI Composites from a “c” rating to a “b” rating in a research note on Monday, November 26th. Finally, Cowen set a $33.00 target price on shares of TPI Composites and gave the stock a “buy” rating in a research note on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.56.
The company has a current ratio of 1.55, a quick ratio of 1.52 and a debt-to-equity ratio of 0.41. The firm has a market cap of $951.47 million, a P/E ratio of 23.98 and a beta of 0.56.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.34. The business had revenue of $255.00 million during the quarter, compared to analyst estimates of $258.35 million. TPI Composites had a net margin of 2.03% and a return on equity of 5.74%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. On average, equities analysts expect that TPI Composites Inc will post 0.42 EPS for the current year.
In other TPI Composites news, Director Daniel G. Weiss sold 50,493 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $26.21, for a total transaction of $1,323,421.53. Following the sale, the director now owns 6,620 shares in the company, valued at approximately $173,510.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven C. Lockard sold 51,795 shares of the firm’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 transaction of $1,326,469.95. Following the sale, the chief executive officer now owns 317,416 shares in the company, valued at approximately $8,129,023.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,255,929 shares of company stock worth $31,812,269. Insiders own 58.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. First Quadrant L P CA raised its position in shares of TPI Composites by 155.0% during the third quarter. First Quadrant L P CA now owns 4,852 shares of the industrial products company’s stock valued at $139,000 after buying an additional 2,949 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of TPI Composites during the second quarter valued at approximately $162,000. Citadel Advisors LLC bought a new stake in shares of TPI Composites during the second quarter valued at approximately $208,000. First Republic Investment Management Inc. bought a new stake in shares of TPI Composites during the third quarter valued at approximately $210,000. Finally, Bessemer Group Inc. purchased a new position in shares of TPI Composites in the third quarter valued at $211,000. Hedge funds and other institutional investors own 61.36% of the company’s stock.
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TPI Composites Company Profile (NASDAQ:TPIC)
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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