Rhumbline Advisers Grows Position in TPI Composites, Inc. (NASDAQ:TPIC)

Rhumbline Advisers increased its position in TPI Composites, Inc. (NASDAQ:TPIC) by 30.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,989 shares of the industrial products company’s stock after purchasing an additional 18,045 shares during the quarter. Rhumbline Advisers owned approximately 0.16% of TPI Composites worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPIC. Oaktree Capital Management LP lifted its stake in shares of TPI Composites by 556.5% in the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock valued at $19,047,000 after purchasing an additional 3,899,903 shares during the period. Clean Energy Transition LLP purchased a new position in TPI Composites during the fourth quarter valued at $1,620,000. LRI Investments LLC purchased a new position in TPI Composites during the first quarter valued at $863,000. Susquehanna Fundamental Investments LLC purchased a new position in TPI Composites during the first quarter valued at $312,000. Finally, Swedbank AB purchased a new position in TPI Composites during the first quarter valued at $248,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Price Performance

Shares of TPIC opened at $4.53 on Friday. TPI Composites, Inc. has a one year low of $1.63 and a one year high of $5.75. The firm has a market capitalization of $215.40 million, a P/E ratio of -0.98 and a beta of 1.91. The business has a fifty day moving average of $4.07 and a 200 day moving average of $3.85.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The company had revenue of $309.82 million during the quarter, compared to the consensus estimate of $313.76 million. Analysts expect that TPI Composites, Inc. will post -2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TPIC. JPMorgan Chase & Co. lifted their price objective on TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Piper Sandler lifted their price objective on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research note on Monday, August 12th. Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Bank of America lifted their price objective on TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.09.

TPI Composites Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.