TPI Composites, Inc. (NASDAQ:TPIC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in TPI Composites, Inc. (NASDAQ:TPIC) by 15.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,413 shares of the industrial products company’s stock after selling 28,516 shares during the period. Bank of Montreal Can owned about 0.32% of TPI Composites worth $641,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of TPI Composites in the second quarter valued at about $44,000. Perigon Wealth Management LLC purchased a new stake in TPI Composites in the 1st quarter valued at approximately $36,000. State Board of Administration of Florida Retirement System grew its holdings in TPI Composites by 55.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock valued at $49,000 after buying an additional 5,930 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in TPI Composites during the fourth quarter worth $90,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TPI Composites in the first quarter worth $77,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Piper Sandler lifted their price target on shares of TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a report on Monday, August 12th. Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Bank of America raised their target price on shares of TPI Composites from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, TPI Composites presently has a consensus rating of “Moderate Buy” and an average price target of $5.09.

TPI Composites Price Performance

TPIC opened at $4.52 on Wednesday. TPI Composites, Inc. has a 12 month low of $1.63 and a 12 month high of $5.75. The business has a 50-day moving average of $4.07 and a two-hundred day moving average of $3.95. The stock has a market capitalization of $213.53 million, a price-to-earnings ratio of -0.98 and a beta of 1.91.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.54). The company had revenue of $309.82 million for the quarter, compared to analysts’ expectations of $313.76 million. Equities research analysts anticipate that TPI Composites, Inc. will post -2.85 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 (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.