TPI Composites (TPIC) Downgraded to “Hold” at ValuEngine
ValuEngine lowered shares of TPI Composites (NASDAQ:TPIC) from a buy rating to a hold rating in a report published on Thursday.
TPIC has been the subject of a number of other research reports. BidaskClub upgraded shares of TPI Composites from a hold rating to a buy rating in a report on Thursday, December 21st. Zacks Investment Research lowered shares of TPI Composites from a buy rating to a hold rating in a report on Wednesday, November 22nd. Craig Hallum assumed coverage on shares of TPI Composites in a report on Tuesday, January 16th. They set a buy rating and a $33.00 price objective for the company. JMP Securities assumed coverage on shares of TPI Composites in a report on Thursday, November 16th. They set an outperform rating and a $33.00 price objective for the company. Finally, Canaccord Genuity lifted their price objective on shares of TPI Composites from $23.00 to $26.00 and gave the company a buy rating in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. TPI Composites currently has a consensus rating of Buy and an average target price of $27.38.
TPI Composites (TPIC) traded up $0.30 during mid-day trading on Thursday, hitting $18.53. 38,041 shares of the company were exchanged, compared to its average volume of 147,262. TPI Composites has a 52-week low of $15.26 and a 52-week high of $26.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 1.32. The stock has a market cap of $631.23, a PE ratio of 16.72 and a beta of -1.34.
In other news, Director Daniel G. Weiss sold 51,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $19.14, for a total value of $976,140.00. Following the completion of the sale, the director now owns 2,880 shares in the company, valued at approximately $55,123.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the business’s stock in a transaction dated 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. Company insiders own 73.70% of the company’s stock.
Several large investors have recently bought and sold shares of TPIC. Schwab Charles Investment Management Inc. raised its holdings in shares of TPI Composites by 558.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 162,787 shares of the industrial products company’s stock valued at $3,009,000 after purchasing an additional 138,053 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of TPI Composites in the 2nd quarter valued at about $206,000. JPMorgan Chase & Co. raised its holdings in shares of TPI Composites by 34.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,517 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 3,759 shares in the last quarter. Alliancebernstein L.P. bought a new stake in shares of TPI Composites in the 2nd quarter valued at about $233,000. Finally, Teachers Advisors LLC raised its holdings in shares of TPI Composites by 22.0% in the 2nd quarter. Teachers Advisors LLC now owns 21,192 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 3,823 shares in the last quarter. Institutional investors and hedge funds own 35.46% of the company’s stock.
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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.
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