TPI Composites (NASDAQ:TPIC) Rating Increased to Hold at BidaskClub
Other analysts also recently issued reports about the stock. Roth Capital cut their price objective on shares of TPI Composites from $34.00 to $28.00 and set a buy rating on the stock in a research report on Friday, August 9th. ValuEngine cut shares of TPI Composites from a buy rating to a hold rating in a research note on Thursday, August 1st. JMP Securities lowered their target price on shares of TPI Composites from $34.00 to $25.00 and set a market outperform rating on the stock in a research note on Tuesday, September 10th. Raymond James upgraded shares of TPI Composites from an outperform rating to a strong-buy rating and set a $32.00 target price on the stock in a research note on Tuesday, August 20th. Finally, Canaccord Genuity lowered their target price on shares of TPI Composites from $28.00 to $25.00 and set a buy rating on the stock in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. TPI Composites has a consensus rating of Buy and a consensus target price of $31.50.
Shares of TPIC stock opened at $19.15 on Friday. TPI Composites has a one year low of $16.80 and a one year high of $32.74. The company’s 50-day moving average is $19.45 and its 200 day moving average is $24.64. The company has a market capitalization of $643.66 million, a price-to-earnings ratio of 239.38 and a beta of 1.72. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.27.
In related news, President William E. Siwek bought 2,823 shares of the stock in a transaction on Monday, August 26th. The shares were acquired at an average price of $17.73 per share, for a total transaction of $50,051.79. Following the purchase, the president now owns 67,676 shares of the company’s stock, valued at $1,199,895.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 20.30% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. TCI Wealth Advisors Inc. bought a new position in shares of TPI Composites in the 2nd quarter worth approximately $25,000. Bank of Montreal Can bought a new position in shares of TPI Composites in the 2nd quarter worth approximately $59,000. Cubist Systematic Strategies LLC bought a new position in shares of TPI Composites in the 2nd quarter worth approximately $63,000. BNP Paribas Arbitrage SA lifted its stake in shares of TPI Composites by 4,759.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,110 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 3,046 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of TPI Composites in the 1st quarter worth approximately $115,000. Institutional investors and hedge funds own 86.88% 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.
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