TPI Composites Inc (TPIC) CEO Acquires $107,350.00 in Stock
TPI Composites Inc (NASDAQ:TPIC) CEO Steven C. Lockard purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was bought at an average cost of $21.47 per share, for a total transaction of $107,350.00. Following the purchase, the chief executive officer now directly owns 277,284 shares in the company, valued at approximately $5,953,287.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of TPIC opened at $21.66 on Tuesday. TPI Composites Inc has a 52-week low of $19.54 and a 52-week high of $32.74. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 1.33. The firm has a market cap of $758.43 million, a price-to-earnings ratio of 270.75 and a beta of 1.43.
TPI Composites (NASDAQ:TPIC) last announced its earnings results on Wednesday, May 8th. The industrial products company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.02. TPI Composites had a negative net margin of 1.44% and a negative return on equity of 8.24%. The company had revenue of $299.78 million for the quarter, compared to analysts’ expectations of $300.16 million. As a group, analysts forecast that TPI Composites Inc will post -0.06 earnings per share for the current fiscal year.
A number of research firms recently issued reports on TPIC. Zacks Investment Research cut shares of TPI Composites from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. BidaskClub cut shares of TPI Composites from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. raised shares of TPI Composites from a “neutral” rating to an “overweight” rating and set a $34.00 price target on the stock in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $36.72.
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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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