TPI Composites, Inc. (NASDAQ:TPIC) Receives $61.30 Consensus PT from Analysts

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received an average rating of “Buy” from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $60.27.

TPIC has been the subject of a number of recent analyst reports. Evercore ISI initiated coverage on TPI Composites in a research report on Monday, April 19th. They issued an “outperform” rating and a $65.00 target price for the company. Morgan Stanley reduced their price target on shares of TPI Composites from $68.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, May 18th. Canaccord Genuity upped their price target on shares of TPI Composites from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 26th. JPMorgan Chase & Co. reduced their price target on shares of TPI Composites from $51.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, March 8th. Finally, Zacks Investment Research lowered shares of TPI Composites from a “hold” rating to a “sell” rating in a research report on Friday, May 21st.

Shares of TPIC stock opened at $44.52 on Tuesday. TPI Composites has a 12 month low of $20.27 and a 12 month high of $81.36. The company has a market cap of $1.63 billion, a PE ratio of -68.48 and a beta of 1.58. The company has a current ratio of 1.28, a quick ratio of 1.25 and a debt-to-equity ratio of 0.93. The firm’s fifty day simple moving average is $49.94.

TPI Composites (NASDAQ:TPIC) last issued its earnings results on Thursday, May 6th. The industrial products company reported ($0.05) earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $404.68 million during the quarter, compared to analyst estimates of $414.90 million. During the same quarter in the previous year, the firm earned ($0.01) EPS. TPI Composites’s revenue was up 13.5% on a year-over-year basis. Equities research analysts expect that TPI Composites will post 0.54 earnings per share for the current year.

In other TPI Composites news, Director Daniel G. Weiss sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $45.62, for a total value of $684,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William E. Siwek sold 3,480 shares of the stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $52.30, for a total value of $182,004.00. Following the transaction, the chief executive officer now owns 106,412 shares of the company’s stock, valued at $5,565,347.60. The disclosure for this sale can be found here. Insiders sold a total of 222,457 shares of company stock valued at $10,186,419 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can boosted its position in shares of TPI Composites by 20.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,210 shares of the industrial products company’s stock valued at $124,000 after acquiring an additional 382 shares during the last quarter. Baird Financial Group Inc. lifted its position in TPI Composites by 2.0% in the fourth quarter. Baird Financial Group Inc. now owns 21,727 shares of the industrial products company’s stock worth $1,147,000 after buying an additional 428 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in TPI Composites by 3.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 18,532 shares of the industrial products company’s stock worth $978,000 after buying an additional 550 shares during the last quarter. Hilltop Holdings Inc. lifted its position in TPI Composites by 4.1% in the first quarter. Hilltop Holdings Inc. now owns 13,976 shares of the industrial products company’s stock worth $789,000 after buying an additional 550 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in TPI Composites in the first quarter worth $31,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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.

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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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