Although TPI Composites sees the wind energy market strengthening in the future as federal spending on clean energy projects rolls out under the Biden administration, and as nations across the world strive to decarbonize, investors dumped the stock in the absence of any visibility into the company's earnings growth in the near term.
Full Answer
Should you hold TPI Composites (tpic) stock?
The consensus among Wall Street research analysts is that investors should "hold" TPI Composites stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in TPIC, but not buy additional shares or sell existing shares. View analyst ratings for TPI Composites or view top-rated stocks.
Who bought tpic stock last quarter?
TPIC stock was acquired by a variety of institutional investors in the last quarter, including Schroder Investment Management Group, Two Sigma Investments LP, Sycomore Asset Management, Achmea Investment Management B.V., Two Sigma Advisers LP, Renaissance Technologies LLC, Goldman Sachs Group Inc., and Voloridge Investment Management LLC.
How much did tpic raise in its IPO?
(TPIC) raised $72 million in an initial public offering on Friday, July 22nd 2016. The company issued 6,300,000 shares at $11.00-$12.00 per share. J.P. Morgan and Morgan Stanley acted as the underwriters for the IPO and Cowen and Company, Raymond James and Canaccord Genuity were co-managers.
What drove TPI Composites'17% fall after earnings?
Shares of TPI Composites (NASDAQ: TPIC) plunged nearly 17% on Nov. 9, the day after the company reported its third-quarter earnings. In this segment of Backstage Pass, recorded on Nov. 17, Fool contributors Brian Withers and Jason Hall discuss the highlights of the company's report.
Why is TPIC falling?
Shares of TPI Composites Inc. tumbled to a 13-month low Friday, after UBS analyst Jon Windham warned clients to sell ahead of earnings, citing increasing risk that continued supply chain and logistics challenges will lead to disappointing earnings, for the rest of this year and for 2022.
Is TPIC a good stock to buy?
Out of 9 analysts, 3 (33.33%) are recommending TPIC as a Strong Buy, 0 (0%) are recommending TPIC as a Buy, 6 (66.67%) are recommending TPIC as a Hold, 0 (0%) are recommending TPIC as a Sell, and 0 (0%) are recommending TPIC as a Strong Sell.
Will TPIC recover?
The company just reported its latest quarter result highlighted by ongoing manufacturing disruptions while management also lowered financial guidance. Recognizing the near-term headwinds, we believe the company can ultimately recover from what has been a difficult period, but we don't expect a quick turnaround.
What is happening with TPI Composites?
TPI Composites (TPIC) Reports Q4 Loss, Tops Revenue Estimates. TPI Composites (TPIC) delivered earnings and revenue surprises of 3.09% and 1.04%, respectively, for the quarter ended December 2021.
Why is TPIC tanking?
TPI blamed the cuts on increased raw material costs, including resin and carbon fiber, as well as logistical issues. The company is also lowering its expectations for demand "due to the raw material cost increases mentioned above and continued global renewable energy regulatory and policy uncertainty."
Who owns TPI Composites?
Top 10 Owners of TPI Composites IncStockholderStakeTotal value ($)BlackRock Fund Advisors7.43%38,194,135The Vanguard Group, Inc.4.54%23,312,078Invesco Capital Management LLC4.39%22,550,442SSgA Funds Management, Inc.3.95%20,272,1836 more rows
Who are Tpic customers?
TPIC typically signs contracts of three to five years with its customers and derives 93% of its revenue from four customers, Vestas, GE Wind, Siemens Gamesa, and Nordex, reflecting the concentration in the turbine industry.
Who bought TPI stock?
TPIC stock was bought by a variety of institutional investors in the last quarter, including Vancity Investment Management Ltd, and Golden Green Inc.. Company insiders that have bought TPI Composites stock in the last two years include Bryan Robert Schumaker, Jayshree S Desai, Steven C Lockard, and William E Siwek.
When is TPI earnings call?
How can I listen to TPI Composites' earnings call? TPI Composites will be holding an earnings conference call on Thursday, August 5th at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-6671 with passcode "10158192".
The wind turbine blade maker cut full-year guidance
Lou has followed the markets for more than two decades, developing extensive contacts including industry leaders, consultants, regulators, and labor representatives. He spends a lot of time these days focused on the industrials and financials.
Key Points
TPI Composites said sales and earnings would come in below initial guidance due to raw material costs and stuttering demand.
What happened
Shares of TPI Composites ( NASDAQ:TPIC) fell more than 15% on Friday morning after the maker of wind turbine blades trimmed full-year 2021 guidance. The company believes it is just a short-term lull, but with the stock trading at a premium multiple, even a slight flinch tends to cause an outsize reaction.
So what
TPI Composites has been a popular choice for investors looking to take advantage of the shift toward renewable energy. Its shares climbed more than 275% from the start of 2020 through February 2021 on enthusiasm that the Biden administration would invest heavily in green energy alternatives including wind power.
Now what
With TPI trading at nearly 60 times expected earnings, investors were not well prepared for any cuts to guidance. The stock has now lost nearly half of its value since February, but it appears there are no easy fixes to jump-start the business in the near term.
What is TPI composites?
TPI Composites (NASDAQ: TPIC), one of the largest global independent manufacturers of wind blades, reported first-quarter results on Thursday. Let's take a look at the numbers and see how they fit into TPI's full-year guidance and the company's long-term outlook.
Who is the president of TPI?
SCOTTSDALE, Ariz., June 30, 2021 (GLOBE NEWSWIRE) -- TPI Composites, Inc., (TPI) (Nasdaq: TPIC) announced today that it has hired Jerry Lavine as its President, Transportation, effective June 30, 2021. In this position, Jerry will oversee the Company’s transportation business. Jerry brings nearly 30 years of experience in the automotive industry in technical, operational and commercial roles. Jerry has recently served as a consultant to new entrant automotive manufacturers and other automotive i
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
What's Happening With TPIC Stock Today?
TPI Composites Inc (TPIC) stock is trading at $30.72 as of 10:20 AM on Monday, Nov 8, a gain of $1.19, or 4.03% from the previous closing price of $29.53. The stock has traded between $30.48 and $31.15 so far today. Volume today is less active than usual. So far 138,161 shares have traded compared to average volume of 720,137 shares.
More About TPI Composites Inc
TPI Composites Inc is engaged in manufacturing composite wind blades. The company operates in wind energy and transportation industries where it manufactures structures for a bus, rail, theme parks, and trucks. Geographically the segments are divided into U.S, Asia, Mexico, and EMEA where Asia segment derives a majority of revenue.
