TPI Composites, Inc. (NASDAQ:TPIC) Shares Sold by Strs Ohio

Strs Ohio trimmed its holdings in shares of TPI Composites, Inc. (NASDAQ:TPIC – Get Rating) by 18.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,800 shares of the industrial products company’s stock after selling 7,400 shares during the period. Strs Ohio’s holdings in TPI Composites were worth $358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd lifted its position in TPI Composites by 1,561.5% during the second quarter. Point72 Hong Kong Ltd now owns 3,456 shares of the industrial products company’s stock valued at $43,000 after buying an additional 3,248 shares in the last quarter. Amalgamated Bank acquired a new position in TPI Composites during the first quarter valued at approximately $83,000. Allspring Global Investments Holdings LLC lifted its position in TPI Composites by 31.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,123 shares of the industrial products company’s stock valued at $114,000 after buying an additional 2,403 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in TPI Composites during the second quarter valued at approximately $131,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of TPI Composites during the second quarter worth $149,000. 82.07% of the stock is owned by institutional investors and hedge funds.

TPI Composites Trading Down 3.1 %

TPIC opened at $13.31 on Friday. The stock has a market capitalization of $558.37 million, a PE ratio of -3.35 and a beta of 1.70. The firm’s fifty day moving average price is $11.25 and its 200 day moving average price is $13.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.47 and a quick ratio of 1.44. TPI Composites, Inc. has a 12-month low of $8.46 and a 12-month high of $25.05.

TPI Composites (NASDAQ:TPIC – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The industrial products company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.18). The company had revenue of $459.27 million during the quarter, compared to analyst estimates of $468.89 million. TPI Composites had a negative net margin of 6.53% and a negative return on equity of 66.10%. As a group, research analysts expect that TPI Composites, Inc. will post -2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TPIC shares. Raymond James reduced their target price on shares of TPI Composites from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, October 13th. Craig Hallum raised shares of TPI Composites from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Friday, November 4th. JPMorgan Chase & Co. reduced their target price on shares of TPI Composites from $21.00 to $20.00 in a research report on Thursday, December 15th. Morgan Stanley reduced their target price on shares of TPI Composites from $21.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th. Finally, Piper Sandler reduced their target price on shares of TPI Composites from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, October 17th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TPI Composites presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.45.

TPI Composites Profile

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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.