TPI Composites, Inc. (NASDAQ:TPIC) Director Daniel G. Weiss Sells 15,000 Shares

TPI Composites, Inc. (NASDAQ:TPIC) Director Daniel G. Weiss sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $45.62, for a total value of $684,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of NASDAQ:TPIC opened at $44.51 on Friday. TPI Composites, Inc. has a 52-week low of $20.27 and a 52-week high of $81.36. The stock has a market capitalization of $1.63 billion, a PE ratio of -68.48 and a beta of 1.58. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.25 and a current ratio of 1.28. The business has a 50-day moving average price of $49.94.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Thursday, May 6th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.05. TPI Composites had a positive return on equity of 13.12% and a negative net margin of 1.18%. The firm had revenue of $404.68 million during the quarter, compared to analysts’ expectations of $414.90 million. During the same period last year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Research analysts expect that TPI Composites, Inc. will post 0.54 EPS for the current fiscal year.

TPIC has been the subject of a number of analyst reports. Roth Capital upped their price objective on TPI Composites from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. Morgan Stanley decreased their price objective on TPI Composites from $68.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, May 18th. Canaccord Genuity upped their price objective on TPI Composites from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, February 26th. Evercore ISI initiated coverage on TPI Composites in a research note on Monday, April 19th. They issued an “outperform” rating and a $65.00 price target for the company. Finally, Piper Sandler initiated coverage on TPI Composites in a research note on Thursday. They issued a “neutral” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $58.92.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in TPI Composites by 25.9% during the first quarter. BlackRock Inc. now owns 2,795,117 shares of the industrial products company’s stock worth $157,728,000 after acquiring an additional 575,449 shares during the period. Schroder Investment Management Group grew its holdings in TPI Composites by 8.0% during the first quarter. Schroder Investment Management Group now owns 1,789,718 shares of the industrial products company’s stock worth $100,994,000 after acquiring an additional 131,890 shares during the period. Handelsbanken Fonder AB grew its holdings in TPI Composites by 50.7% during the fourth quarter. Handelsbanken Fonder AB now owns 1,384,784 shares of the industrial products company’s stock worth $73,089,000 after acquiring an additional 466,130 shares during the period. Morgan Stanley grew its holdings in TPI Composites by 22.5% during the first quarter. Morgan Stanley now owns 1,177,091 shares of the industrial products company’s stock worth $66,424,000 after acquiring an additional 215,940 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in TPI Composites by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 841,605 shares of the industrial products company’s stock worth $44,419,000 after acquiring an additional 7,960 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

See Also: What is the Book Value of a Share?

Insider Buying and Selling by Quarter 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.