Sustainable Insight Capital Management LLC Buys New Position in TPI Composites, Inc. (NASDAQ:TPIC)

Sustainable Insight Capital Management LLC purchased a new position in shares of TPI Composites, Inc. (NASDAQ:TPIC) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 42,400 shares of the industrial products company’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Peoples Bank KS grew its stake in TPI Composites by 100.0% in the 4th quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 10,000 shares during the period. Cedar Point Capital Partners LLC lifted its position in TPI Composites by 100.0% during the fourth quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock worth $38,000 after buying an additional 10,000 shares during the period. Quantinno Capital Management LP acquired a new stake in TPI Composites in the 3rd quarter worth about $57,000. Intech Investment Management LLC purchased a new stake in TPI Composites in the 3rd quarter valued at about $65,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of TPI Composites during the 3rd quarter valued at about $88,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

TPI Composites Price Performance

NASDAQ:TPIC opened at $1.51 on Friday. TPI Composites, Inc. has a 1-year low of $1.10 and a 1-year high of $5.75. The firm has a 50-day moving average of $1.74 and a two-hundred day moving average of $3.21.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.47). The firm had revenue of $380.76 million for the quarter, compared to analyst estimates of $346.50 million. During the same period in the prior year, the firm earned ($1.71) earnings per share. On average, research analysts expect that TPI Composites, Inc. will post -3.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TPIC. Jefferies Financial Group assumed coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price target on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Morgan Stanley reissued an “underweight” rating and set a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Finally, Bank of America cut their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.58.

TPI Composites Company 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.