TPI Composites Inc (NASDAQ:TPIC) major shareholder Investors L. P. Angeleno II sold 100,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $22.35, for a total value of $2,235,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of TPI Composites Inc (TPIC) opened at $21.80 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.93 and a current ratio of 1.34. The stock has a market capitalization of $754.51, a P/E ratio of 17.30 and a beta of -0.62. TPI Composites Inc has a 52-week low of $15.26 and a 52-week high of $26.00.
TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, March 8th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). The firm had revenue of $247.10 million for the quarter, compared to analyst estimates of $249.00 million. TPI Composites had a net margin of 4.70% and a return on equity of 31.56%. The business’s revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. research analysts predict that TPI Composites Inc will post 0.38 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in TPI Composites by 79.9% in the second quarter. Vanguard Group Inc. now owns 485,589 shares of the industrial products company’s stock worth $8,973,000 after buying an additional 215,680 shares during the period. Handelsinvest Investeringsforvaltning increased its position in TPI Composites by 60.0% in the fourth quarter. Handelsinvest Investeringsforvaltning now owns 320,000 shares of the industrial products company’s stock worth $6,547,000 after buying an additional 120,000 shares during the period. Alps Advisors Inc. acquired a new stake in TPI Composites in the third quarter worth $519,000. Mckinley Capital Management LLC Delaware acquired a new stake in TPI Composites in the third quarter worth $2,559,000. Finally, GSA Capital Partners LLP increased its position in TPI Composites by 78.2% in the third quarter. GSA Capital Partners LLP now owns 25,625 shares of the industrial products company’s stock worth $572,000 after buying an additional 11,245 shares during the period. 38.68% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on TPIC. Zacks Investment Research cut TPI Composites from a “buy” rating to a “hold” rating in a research note on Saturday, March 10th. BidaskClub upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. UBS began coverage on TPI Composites in a research report on Thursday. They set a “neutral” rating and a $23.00 price target on the stock. Craig Hallum began coverage on TPI Composites in a research report on Tuesday, January 16th. They set a “buy” rating and a $33.00 price target on the stock. Finally, ValuEngine lowered TPI Composites from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.89.
TPI Composites Company Profile
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.
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.