Is TPI Composites Inc. (NASDAQ: TPIC) Back In The Buying Zone?

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    BlackRock Fund Advisors recently announced the acquisition of new stake in TPI Composites Inc. (NASDAQ:TPIC). The institutional investor has increased its shareholding in the Industrials company by 3.19% to 2.26 million shares with purchase of 69915.0 shares. This fresh investment now brings its stake to 6.42% valued currently at $46.96 million. In addition, The Vanguard Group, Inc. raised its holdings by 3992.0 to 1.48 million shares. And BC Investment Management Corp. has lifted its position by 5.61% or 52500.0 shares – to 0.99 million shares.

    With over 0.52 million TPI Composites Inc. (TPIC) shares trading Thursday and a closing price of $24.40 on the day, the dollar volume was approximately $12.7 million. The shares have shown a positive weekly performance of 10.56% and its price on 07/02/20 gained nearly 6.23%. Currently, there are 35.21M common shares owned by the public and among those 29.67M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: Several analysts who have offered their price forecasts for TPIC have a consensus price objective of $26.38. The analysts have set the share’s price value over the next 12 months at a high of $31.00 and a low of $20.00 should the stock experience a downside. Incidentally, analysts’ outlook for the TPI Composites Inc. stock is 1.80 for the next 12 months. The average price target is 6.15% above its last price level and an upside to the estimated low will see the stock lose -22.0% over that period. But an upside of 21.29% will see the stock hit the forecast high price target while mean target price for the stock is $27.00.

    Insiders at the company have transacted a total of 42 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 231,312 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 229,140 shares.

    The top 3 mutual fund holders in TPI Composites Inc. are Swedbank Robur IP Aktiefond, Vanguard Total Stock Market Index, and Handelsbanken Hallbar Energi. Swedbank Robur IP Aktiefond owns 0.9 million shares of the company’s stock, all valued at over $18.68 million. The company sold 100000.0 shares recently to bring their total holdings to about 2.55% of the shares outstanding. Vanguard Total Stock Market Index has total holdings of 0.86 million shares valued at over $17.8 million and representing 2.43% of the shares outstanding. Handelsbanken Hallbar Energi bought 40368.0 shares to bring its total holdings to over 0.82 million shares at a value of $17.09 million. Handelsbanken Hallbar Energi now owns shares totaling to 2.34% of the shares outstanding.

    Shares of TPI Composites Inc. (NASDAQ: TPIC) opened at $23.48, up $0.51 from a prior closing price of $22.97. However, the script later closed the day at $24.40, up 6.23%. The company’s stock has a 5-day price change of 10.56% and 89.59% over the past three months. TPIC shares are trading 31.82% year to date (YTD), with the 12-month market performance down to -0.33% lower. It has a 12-month low price of $9.19 and touched a high of $27.80 over the same period. Currently, 0.52 million shares have been traded, compared to an average intraday trading volume of 485.52K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.61%, 21.49%, and 28.67% respectively.

    Institutional ownership of TPI Composites Inc. (NASDAQ: TPIC) shares is35.21M shares outstanding. Mutual fund holders own 30.26%, while other institutional holders and individual stakeholders account for 52.70% and 26.70% respectively.

    It has a market capitalization of $810.08M and a beta (3y monthly) value of 1.62. The stock’s earnings-per-share (ttm) stands at -$0.12. The company has a Quick Ratio of 1.30 with the debt-to-equity ratio at 1.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.65% over the week and 5.28% over the month.

    Analysts forecast that TPI Composites Inc. (TPIC) will achieve an EPS of -$0.21 for the current quarter, $0.22 for the next quarter and $1.56 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.65 while analysts give the company a high EPS estimate of $0.27. Comparatively, EPS for the current quarter was $0.05 a year ago. Earnings per share for the fiscal year are expected to decrease by -405.50%, and 302.58% over the next financial year. EPS should grow at an annualized rate of 50.00% over the next five years, compared to 6.50% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate TPI Composites Inc. (TPIC) as a “Strong Buy” at a consensus score of 1.80. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 1 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the TPIC, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on June 16, 2020, with the firm’s price target at $30. Canaccord Genuity coverage for the TPI Composites Inc. (TPIC) stock in a research note released on April 17, 2020 offered a Buy rating with a price target of . JP Morgan was of a view on April 06, 2020 that the stock is Overweight, while ROTH Capital gave the stock Buy rating on March 03, 2020, issuing a price target of $23- $28. JP Morgan on their part issued Neutral rating on February 11, 2020.

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