Handelsinvest Investeringsforvaltning lifted its holdings in shares of TPI Composites Inc (NASDAQ:TPIC) by 9.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 420,000 shares of the industrial products company’s stock after acquiring an additional 35,255 shares during the quarter. TPI Composites accounts for about 1.7% of Handelsinvest Investeringsforvaltning’s investment portfolio, making the stock its 17th largest holding. Handelsinvest Investeringsforvaltning’s holdings in TPI Composites were worth $7,875,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in TPIC. BlackRock Inc. lifted its stake in shares of TPI Composites by 61.0% during the 2nd quarter. BlackRock Inc. now owns 1,975,173 shares of the industrial products company’s stock valued at $48,826,000 after buying an additional 748,204 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in TPI Composites by 1,551.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 563,149 shares of the industrial products company’s stock worth $10,559,000 after acquiring an additional 529,050 shares during the period. Redwood Capital Management LLC increased its holdings in TPI Composites by 81.4% during the 2nd quarter. Redwood Capital Management LLC now owns 761,408 shares of the industrial products company’s stock worth $18,822,000 after acquiring an additional 341,670 shares during the period. Bank of New York Mellon Corp increased its holdings in TPI Composites by 24.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,456,149 shares of the industrial products company’s stock worth $35,995,000 after acquiring an additional 284,649 shares during the period. Finally, Scout Investments Inc. bought a new stake in TPI Composites during the 2nd quarter worth approximately $5,949,000. Institutional investors own 87.03% of the company’s stock.
A number of analysts recently weighed in on TPIC shares. Roth Capital decreased their target price on shares of TPI Composites from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark started coverage on shares of TPI Composites in a report on Friday, October 4th. They set a “buy” rating and a $30.00 target price on the stock. JMP Securities decreased their target price on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating on the stock in a report on Tuesday, September 10th. BidaskClub raised shares of TPI Composites from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Zacks Investment Research lowered shares of TPI Composites from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $29.73.
Shares of NASDAQ:TPIC traded up $0.15 during trading on Tuesday, reaching $19.28. The company had a trading volume of 190,842 shares, compared to its average volume of 429,522. The company has a fifty day moving average of $18.64 and a two-hundred day moving average of $22.88. The stock has a market capitalization of $683.04 million, a P/E ratio of 241.00 and a beta of 1.72. TPI Composites Inc has a 12 month low of $16.80 and a 12 month high of $32.74. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.33. The firm had revenue of $330.77 million for the quarter, compared to analyst estimates of $330.90 million. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. The business’s revenue for the quarter was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) EPS. As a group, equities research analysts predict that TPI Composites Inc will post 0.03 earnings per share for the current year.
TPI Composites Profile
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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