Los Angeles Capital Management LLC Increases Stock Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

Los Angeles Capital Management LLC increased its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 78.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 89,777 shares of the industrial products company’s stock after purchasing an additional 39,356 shares during the quarter. Los Angeles Capital Management LLC’s holdings in TPI Composites were worth $358,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Perigon Wealth Management LLC bought a new position in TPI Composites during the first quarter valued at $36,000. SG Americas Securities LLC bought a new position in TPI Composites during the 2nd quarter valued at about $44,000. State Board of Administration of Florida Retirement System raised its position in TPI Composites by 55.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 5,930 shares during the period. Fiduciary Trust Co bought a new stake in TPI Composites in the fourth quarter worth about $54,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in TPI Composites in the first quarter worth about $77,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Stock Performance

TPIC opened at $4.07 on Friday. The stock’s fifty day moving average is $4.05 and its two-hundred day moving average is $3.77. TPI Composites, Inc. has a 52 week low of $1.63 and a 52 week high of $5.75.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results 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 firm had revenue of $309.82 million during the quarter, compared to analysts’ expectations of $313.76 million. On average, research analysts anticipate that TPI Composites, Inc. will post -2.85 EPS for the current year.

Analyst Ratings Changes

TPIC has been the topic of several recent analyst reports. Piper Sandler increased their price target on TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a report on Monday, August 12th. Bank of America increased their target price on TPI Composites from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.