TPI Composites (NASDAQ:TPIC) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, BidAskClub reports.

TPIC has been the subject of several other research reports. Craig Hallum dropped their price target on TPI Composites from $37.00 to $31.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Roth Capital dropped their price target on TPI Composites from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. ValuEngine lowered TPI Composites from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Canaccord Genuity dropped their price target on TPI Composites from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Zacks Investment Research lowered TPI Composites from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $33.00.

Shares of TPIC stock opened at $18.13 on Tuesday. TPI Composites has a 12-month low of $17.89 and a 12-month high of $32.74. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. The stock has a 50-day moving average price of $24.52. The company has a market capitalization of $660.89 million, a PE ratio of 226.63 and a beta of 1.53.

TPI Composites (NASDAQ:TPIC) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.33. The firm had revenue of $330.77 million for the quarter, compared to analysts’ expectations of $330.90 million. TPI Composites had a negative return on equity of 5.59% and a negative net margin of 0.82%. The business’s revenue was up 43.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) earnings per share. As a group, research analysts forecast that TPI Composites will post 0.04 EPS for the current fiscal year.

In other TPI Composites news, insider Thomas J. Castle sold 1,527 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $22.52, for a total transaction of $34,388.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven C. Lockard bought 5,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were acquired at an average price of $21.47 per share, with a total value of $107,350.00. Following the transaction, the chief executive officer now directly owns 277,284 shares of the company’s stock, valued at $5,953,287.48. The disclosure for this purchase can be found here. Insiders have acquired 12,470 shares of company stock valued at $270,570 in the last 90 days. Company insiders own 20.30% of the company’s stock.

Several large investors have recently made changes to their positions in TPIC. BlackRock Inc. boosted its position in shares of TPI Composites by 61.0% during the second quarter. BlackRock Inc. now owns 1,975,173 shares of the industrial products company’s stock valued at $48,826,000 after buying an additional 748,204 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of TPI Composites in the first quarter valued at approximately $18,514,000. Redwood Capital Management LLC boosted its holdings in shares of TPI Composites by 81.4% in the second quarter. Redwood Capital Management LLC now owns 761,408 shares of the industrial products company’s stock valued at $18,822,000 after purchasing an additional 341,670 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of TPI Composites by 24.3% in the second quarter. Bank of New York Mellon Corp now owns 1,456,149 shares of the industrial products company’s stock valued at $35,995,000 after purchasing an additional 284,649 shares during the period. Finally, Scout Investments Inc. purchased a new stake in shares of TPI Composites in the second quarter valued at approximately $5,949,000. Institutional investors and hedge funds own 82.40% 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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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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