BidaskClub downgraded shares of TPI Composites (NASDAQ:TPIC) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other brokerages have also recently issued reports on TPIC. Zacks Investment Research raised shares of TPI Composites from a hold rating to a strong-buy rating and set a $26.00 target price for the company in a report on Wednesday, October 11th. JPMorgan Chase & Co. raised shares of TPI Composites from a neutral rating to an overweight rating and set a $27.00 target price for the company in a report on Thursday, November 30th. Canaccord Genuity raised their target price on shares of TPI Composites from $23.00 to $26.00 and gave the stock a buy rating in a report on Monday, November 6th. JMP Securities began coverage on shares of TPI Composites in a report on Thursday, November 16th. They set an outperform rating and a $33.00 target price for the company. Finally, ValuEngine upgraded shares of TPI Composites from a hold rating to a buy rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $27.00.

TPI Composites (NASDAQ TPIC) opened at $20.49 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. TPI Composites has a fifty-two week low of $15.26 and a fifty-two week high of $26.00. The stock has a market cap of $695.51, a price-to-earnings ratio of 20.09 and a beta of -1.43.

TPI Composites (NASDAQ:TPIC) last issued its earnings results on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.36. TPI Composites had a net margin of 4.09% and a return on equity of 30.80%. The firm had revenue of $243.35 million during the quarter, compared to analysts’ expectations of $252.42 million. During the same quarter last year, the company posted $0.08 earnings per share. The firm’s revenue was up 22.3% compared to the same quarter last year. analysts forecast that TPI Composites will post 1.3 EPS for the current year.

In related news, Director Daniel G. Weiss sold 51,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $19.14, for a total transaction of $976,140.00. Following the sale, the director now owns 2,880 shares in the company, valued at $55,123.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $18.79, for a total transaction of $608,570.52. The disclosure for this sale can be found here. 73.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in TPIC. FMR LLC grew its position in shares of TPI Composites by 45.2% in the second quarter. FMR LLC now owns 1,556,068 shares of the industrial products company’s stock valued at $28,756,000 after purchasing an additional 484,681 shares during the period. Bank of New York Mellon Corp grew its position in shares of TPI Composites by 1,755.3% in the second quarter. Bank of New York Mellon Corp now owns 361,690 shares of the industrial products company’s stock valued at $6,684,000 after purchasing an additional 342,195 shares during the period. Bamco Inc. NY grew its position in shares of TPI Composites by 238.5% in the second quarter. Bamco Inc. NY now owns 313,100 shares of the industrial products company’s stock valued at $5,786,000 after purchasing an additional 220,600 shares during the period. Vanguard Group Inc. grew its position in shares of TPI Composites by 79.9% in the second quarter. Vanguard Group Inc. now owns 485,589 shares of the industrial products company’s stock valued at $8,973,000 after purchasing an additional 215,680 shares during the period. Finally, Neumeier Poma Investment Counsel LLC acquired a new stake in shares of TPI Composites in the third quarter valued at about $3,335,000. Institutional investors and hedge funds own 33.89% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “TPI Composites (TPIC) Downgraded by BidaskClub to Hold” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.watchlistnews.com/tpi-composites-tpic-downgraded-by-bidaskclub-to-hold/1799468.html.

TPI Composites Company Profile

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.

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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.