TPI Composites (TPIC) Earns “Overweight” Rating from Morgan Stanley

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Morgan Stanley restated their overweight rating on shares of TPI Composites (NASDAQ:TPIC) in a research note released on Monday, MarketBeat reports. The firm currently has a $42.00 price objective on the industrial products company’s stock, up from their prior price objective of $31.00.

Other research analysts also recently issued reports about the company. JMP Securities upped their price target on TPI Composites from $36.00 to $38.00 and gave the stock a market outperform rating in a research note on Wednesday, August 8th. BidaskClub upgraded TPI Composites from a hold rating to a buy rating in a research note on Thursday, September 27th. Canaccord Genuity upped their price target on TPI Composites from $26.00 to $35.50 and gave the stock a buy rating in a research note on Wednesday, July 11th. Roth Capital set a $37.00 price target on TPI Composites and gave the stock a buy rating in a research note on Tuesday, July 10th. Finally, Craig Hallum upped their price target on TPI Composites from $33.00 to $45.00 and gave the stock a buy rating in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, two 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 $35.06.

TPIC stock opened at $25.26 on Monday. TPI Composites has a 1-year low of $16.35 and a 1-year high of $32.22. The company has a quick ratio of 1.63, a current ratio of 1.65 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $821.77 million, a price-to-earnings ratio of 20.21 and a beta of -0.89.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.09). TPI Composites had a return on equity of 17.01% and a net margin of 3.17%. The business had revenue of $230.61 million during the quarter, compared to the consensus estimate of $240.29 million. On average, sell-side analysts expect that TPI Composites will post 0.3 EPS for the current fiscal year.

In other news, major shareholder Element Partners Ii Intrafund sold 4,796 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $25.01, for a total transaction of $119,947.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel G. Weiss sold 48,080 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $27.60, for a total value of $1,327,008.00. Following the sale, the director now directly owns 6,620 shares in the company, valued at $182,712. The disclosure for this sale can be found here. Insiders have sold a total of 2,629,265 shares of company stock worth $71,710,366 over the last ninety days. Insiders own 58.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB raised its holdings in shares of TPI Composites by 12.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 1,921,151 shares of the industrial products company’s stock worth $56,174,000 after acquiring an additional 207,000 shares in the last quarter. BlackRock Inc. raised its holdings in shares of TPI Composites by 38.7% during the 2nd quarter. BlackRock Inc. now owns 959,762 shares of the industrial products company’s stock worth $28,063,000 after acquiring an additional 267,717 shares in the last quarter. Trigran Investments Inc. raised its holdings in shares of TPI Composites by 130.7% during the 2nd quarter. Trigran Investments Inc. now owns 848,543 shares of the industrial products company’s stock worth $24,811,000 after acquiring an additional 480,751 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of TPI Composites during the 2nd quarter worth approximately $20,767,000. Finally, Renaissance Technologies LLC raised its holdings in shares of TPI Composites by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 650,000 shares of the industrial products company’s stock worth $19,006,000 after acquiring an additional 95,300 shares in the last quarter. 51.05% of the stock is currently owned by institutional investors and hedge funds.

About TPI Composites

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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