TPI Composites, Inc. (TPIC) Rating Lowered to Hold at Zacks Investment Research
TPI Composites, Inc. (NASDAQ:TPIC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “TPI Composites, Inc. is the manufacturer of composite wind blades for the wind energy market. It operates primarily in the U.S., Mexico, China and Turkey. TPI Composites, Inc. is headquartered in Scottsdale, Arizona. “
TPIC has been the subject of a number of other reports. ValuEngine raised TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Roth Capital raised their price target on TPI Composites from $23.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. JMP Securities began coverage on TPI Composites in a report on Thursday, November 16th. They set an “outperform” rating and a $33.00 price target for the company. Cowen Inc set a $26.00 price target on TPI Composites and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Canaccord Genuity raised their price target on TPI Composites from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, November 6th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $27.00.
TPI Composites (NASDAQ TPIC) opened at $18.77 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $638.37, a P/E ratio of 16.91 and a beta of -0.01. TPI Composites has a 52-week low of $14.13 and a 52-week high of $26.00.
TPI Composites (NASDAQ:TPIC) last posted its earnings results on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.36. The business had revenue of $243.35 million during the quarter, compared to the consensus estimate of $252.42 million. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. TPI Composites’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS. analysts forecast that TPI Composites will post 1.3 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPIC. First Quadrant L P CA bought a new position in shares of TPI Composites in the 3rd quarter worth $126,000. Nationwide Fund Advisors boosted its position in shares of TPI Composites by 85.8% in the 2nd quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 2,788 shares during the last quarter. Sei Investments Co. boosted its position in shares of TPI Composites by 916.3% in the 2nd quarter. Sei Investments Co. now owns 7,734 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 6,973 shares during the last quarter. Advisor Group Inc. boosted its position in shares of TPI Composites by 242.5% in the 2nd quarter. Advisor Group Inc. now owns 8,333 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 5,900 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in TPI Composites by 70.2% during the second quarter. Royal Bank of Canada now owns 9,338 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 3,852 shares in the last quarter. 35.03% of the stock is owned by institutional investors.
About TPI Composites
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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