TPI Composites (TPIC) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of TPI Composites (NASDAQ:TPIC) from a hold rating to a buy rating in a research note issued to investors on Thursday.

A number of other brokerages 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 target price on the stock in a report on Wednesday, October 11th. JPMorgan Chase & Co. upgraded TPI Composites from a neutral rating to an overweight rating and set a $27.00 target price on the stock in a report on Thursday, November 30th. Canaccord Genuity upped their target price on TPI Composites from $23.00 to $26.00 and gave the company a buy rating in a report on Monday, November 6th. JMP Securities started coverage on TPI Composites in a report on Thursday, November 16th. They issued an outperform rating and a $33.00 target price on the stock. Finally, ValuEngine upgraded TPI Composites from a hold rating to a buy rating in a report on Thursday, November 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $27.00.

TPI Composites (TPIC) opened at $20.11 on Thursday. The firm has a market capitalization of $695.84, a PE ratio of 19.72 and a beta of -1.39. TPI Composites has a twelve month low of $15.26 and a twelve month high of $26.00. The company has a quick ratio of 0.93, a current ratio of 1.32 and a debt-to-equity ratio of 0.59.

TPI Composites (NASDAQ:TPIC) last issued its earnings results on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.36. The company had revenue of $243.35 million for the quarter, compared to the consensus estimate of $252.42 million. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. sell-side analysts forecast that TPI Composites will post 1.3 earnings per share for the current fiscal year.

In related news, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $18.79, for a total value of $608,570.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel G. Weiss sold 51,000 shares of the 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 transaction, the director now owns 2,880 shares in the company, valued at approximately $55,123.20. The disclosure for this sale can be found here. Corporate insiders own 73.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Handelsinvest Investeringsforvaltning grew its holdings in TPI Composites by 63.3% during the third quarter. Handelsinvest Investeringsforvaltning now owns 200,000 shares of the industrial products company’s stock valued at $4,468,000 after purchasing an additional 77,500 shares during the last quarter. Rhumbline Advisers acquired a new position in TPI Composites during the second quarter valued at approximately $206,000. Vanguard Group Inc. grew its holdings in TPI Composites by 79.9% during the second 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. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TPI Composites by 5,354.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,000 shares of the industrial products company’s stock valued at $1,109,000 after purchasing an additional 58,900 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in TPI Composites during the third quarter valued at approximately $519,000. Institutional investors own 33.89% of the company’s stock.

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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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