TPI Composites (TPIC) Receives a Buy from Canaccord Genuity


Canaccord Genuity analyst Kenneth Herbert maintained a Buy rating on TPI Composites (TPIC) yesterday and set a price target of $35.00. The company’s shares closed last Thursday at $26.06.

According to TipRanks.com, Herbert is a 5-star analyst with an average return of 15.7% and a 64.4% success rate. Herbert covers the Technology sector, focusing on stocks such as Rada Electronics Industries, Aerojet Rocketdyne Holdings, and CPI Aerostructures.

TPI Composites has an analyst consensus of Strong Buy, with a price target consensus of $32.89.

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Based on TPI Composites’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $374 million and GAAP net loss of $66.1 million. In comparison, last year the company earned revenue of $331 million and had a net profit of $1.83 million.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TPIC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

TPI Composites, Inc. is a holding company, which engages in the manufacture of composite wind blades for the wind energy market. It operates through the following segments: United States (US); Asia; Mexico; and Europe, the Middle East, and Africa (EMEA). The US segment includes the production of wind blades in Newton, Iowa plant; and manufacturing of precision molding and assembly systems used for the manufacture of wind blades in Warren, Rhode Island facility, and composite solutions for the transportation industry. The Asia segment produces wind blades in Taicang Port, Dafeng, and Yangzhou, China facilities. The Mexico segment focuses its operation of wind blades in Juárez and Matamoros, Mexico. The EMEAI segment offers wind blades from two facilities in Izmir, Turkey; and also performs wind blade inspection and repair services. The company was founded by Everett Pearson and Neil Tillotson in 1968 and is headquartered in Scottsdale, AZ.

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