TPI Composites (NASDAQ:TPIC) Stock Price Up 4.6%
TPI Composites, Inc. (NASDAQ:TPIC) rose 4.6% during mid-day trading on Thursday . The company traded as high as $56.99 and last traded at $56.96. Approximately 2,947 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 971,936 shares. The stock had previously closed at $54.46.
TPIC has been the subject of a number of research reports. Morgan Stanley lowered their price target on TPI Composites from $77.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, March 16th. Raymond James lowered TPI Composites from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $44.00 to $67.00 in a report on Friday, January 8th. BTIG Research upped their target price on TPI Composites from $42.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 22nd. Canaccord Genuity upped their target price on TPI Composites from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 4th. Finally, Craig Hallum downgraded TPI Composites from a “buy” rating to a “hold” rating in a research report on Friday, February 26th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. TPI Composites presently has an average rating of “Buy” and an average target price of $59.91.
The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.29 and a current ratio of 1.32. The company has a 50 day moving average of $54.07 and a two-hundred day moving average of $48.99. The stock has a market cap of $2.14 billion, a PE ratio of -75.00 and a beta of 1.67.
In related news, CFO Bryan Robert Schumaker sold 52,614 shares of the business’s stock in a transaction that occurred on Tuesday, March 2nd. The stock was sold at an average price of $50.65, for a total transaction of $2,664,899.10. Following the completion of the sale, the chief financial officer now directly owns 53,684 shares in the company, valued at $2,719,094.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ramesh Gopalakrishnan sold 997 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $52.30, for a total value of $52,143.10. Following the sale, the chief operating officer now owns 10,905 shares of the company’s stock, valued at $570,331.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,716 shares of company stock valued at $3,036,334. 18.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of TPIC. FMR LLC increased its position in shares of TPI Composites by 24,650.0% during the first quarter. FMR LLC now owns 49,500 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 49,300 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in TPI Composites in the 3rd quarter valued at $927,000. JPMorgan Chase & Co. grew its holdings in TPI Composites by 23.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,196 shares of the industrial products company’s stock valued at $4,537,000 after buying an additional 30,848 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of TPI Composites by 97.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 143,705 shares of the industrial products company’s stock worth $4,162,000 after purchasing an additional 70,985 shares during the period. Finally, Morgan Stanley grew its holdings in shares of TPI Composites by 14.8% during the 3rd quarter. Morgan Stanley now owns 580,393 shares of the industrial products company’s stock worth $16,808,000 after purchasing an additional 74,744 shares during the period. Hedge funds and other institutional investors own 76.83% of the company’s stock.
TPI Composites Company Profile (NASDAQ:TPIC)
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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