TPI Composites (NASDAQ:TPIC) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other equities analysts have also recently weighed in on TPIC. Zacks Investment Research upgraded TPI Composites from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a report on Wednesday, October 11th. 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. ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. JMP Securities started 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. Finally, J P Morgan Chase & Co upgraded TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 price target for the company in a report on Thursday, November 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $27.00.

TPI Composites (TPIC) opened at $20.11 on Thursday. The firm has a market capitalization of $666.94, a P/E ratio of 17.67 and a beta of -1.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 1.32. TPI Composites has a 1-year low of $14.95 and a 1-year high of $26.00.

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

In other news, Director Daniel G. Weiss sold 51,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was 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 directly owns 2,880 shares of the company’s stock, valued at approximately $55,123.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $18.79, for a total value of $608,570.52. The disclosure for this sale can be found here. 73.70% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of TPIC. FMR LLC lifted its stake in shares of TPI Composites by 45.2% in the 2nd 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 last quarter. Bank of New York Mellon Corp lifted its stake in shares of TPI Composites by 1,755.3% in the 2nd 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 last quarter. Bamco Inc. NY lifted its stake in shares of TPI Composites by 238.5% in the 2nd 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 last quarter. Vanguard Group Inc. lifted its stake in shares of TPI Composites by 79.9% in the 2nd 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 last quarter. Finally, Marshall Wace North America L.P. bought a new stake in shares of TPI Composites in the 2nd quarter valued at approximately $3,081,000. 33.89% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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