Goldman Sachs Group Inc. boosted its holdings in TPI Composites, Inc. (NASDAQ:TPIC) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,243 shares of the industrial products company’s stock after acquiring an additional 879 shares during the period. Goldman Sachs Group Inc. owned about 0.07% of TPI Composites worth $448,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nationwide Fund Advisors lifted its holdings in TPI Composites by 85.8% in the second quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 2,788 shares during the last quarter. Sei Investments Co. lifted its holdings in TPI Composites by 916.3% in the second quarter. Sei Investments Co. now owns 7,734 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 6,973 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in TPI Composites by 260.5% in the first quarter. Wells Fargo & Company MN now owns 7,750 shares of the industrial products company’s stock worth $147,000 after acquiring an additional 5,600 shares during the last quarter. Advisor Group Inc. lifted its holdings in TPI Composites by 242.5% in the second quarter. Advisor Group Inc. now owns 8,333 shares of the industrial products company’s stock worth $154,000 after acquiring an additional 5,900 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in TPI Composites by 6,277.7% in the second quarter. Citigroup Inc. now owns 10,013 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 9,856 shares during the last quarter. 35.36% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on TPIC. ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Roth Capital raised their target price on shares of TPI Composites from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research cut shares of TPI Composites from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Cowen and Company set a $26.00 price target on shares of TPI Composites and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Canaccord Genuity raised their price target on shares of TPI Composites from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, November 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $26.00.
In other news, Director Jack A. Henry purchased 3,400 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average price of $21.70 per share, for a total transaction of $73,780.00. Following the completion of the purchase, the director now owns 13,800 shares of the company’s stock, valued at $299,460. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 73.70% of the stock is currently owned by company insiders.
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Shares of TPI Composites, Inc. (TPIC) opened at $19.29 on Tuesday. TPI Composites, Inc. has a 12 month low of $13.27 and a 12 month high of $26.00. The company has a market cap of $668.64, a P/E ratio of 17.71 and a beta of -0.01. The company has a quick ratio of 0.93, a current ratio of 1.32 and a debt-to-equity ratio of 0.59.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.22 by $0.36. TPI Composites had a net margin of 4.09% and a return on equity of 30.80%. The company had revenue of $243.35 million for the quarter, compared to analyst estimates of $252.42 million. During the same quarter last year, the business earned $0.08 earnings per share. TPI Composites’s revenue was up 22.3% compared to the same quarter last year. equities research analysts forecast that TPI Composites, Inc. will post 1.3 EPS for the current fiscal year.
About TPI Composites
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.
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