TPI Composites Inc. (NASDAQ: TPIC) stock jumped 17.08% on Friday to $18.78 against a previous-day closing price of $16.04. With 1.07 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.57 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $18.82 whereas the lowest price it dropped to was $16.24. The 52-week range on TPIC shows that it touched its highest point at $44.61 and its lowest point at $9.23 during that stretch. It currently has a 1-year price target of $17.04. Beta for the stock currently stands at 1.56.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TPIC was up-trending over the past week, with a rise of 29.79%, but this was up by 61.06% over a month. Three-month performance surged to 42.81% while six-month performance rose 66.34%. The stock lost -51.99% in the past year, while it has gained 25.53% so far this year. A look at the trailing 12-month EPS for TPIC yields -5.01 with Next year EPS estimates of -0.30. For the next quarter, that number is -0.40. This implies an EPS growth rate of -726.50% for this year and 83.60% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -41.20%.
Float and Shares Shorts:
At present, 41.90 million TPIC shares are outstanding with a float of 35.65 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4.55 million, which was 12.20% higher than short shares on Jun 14, 2022. In addition to Mr. William E. Siwek as the firm’s Pres, CEO & Director, Mr. Adan Gossar serves as its Chief Accounting Officer.
Through their ownership of 96.33% of TPIC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.74% of TPIC, in contrast to 32.20% held by mutual funds. Shares owned by individuals account for 16.16%. As the largest shareholder in TPIC with 7.43% of the stake, BlackRock Fund Advisors holds 2,769,698 shares worth 2,769,698. A second-largest stockholder of TPIC, The Vanguard Group, Inc., holds 1,690,506 shares, controlling over 4.54% of the firm’s shares. Invesco Capital Management LLC is the third largest shareholder in TPIC, holding 1,635,275 shares or 4.39% stake. With a 3.40% stake in TPIC, the CS Invt. Fds. 2 – is the largest stakeholder. A total of 1,268,035 shares are owned by the mutual fund manager. The iShares II Plc – Global Clean Ene, which owns about 2.93% of TPIC stock, is the second-largest Mutual Fund holder. It holds 1,091,830 shares valued at 13.65 million. Vanguard Total Stock Market Index holds 2.74% of the stake in TPIC, owning 1,021,229 shares worth 12.77 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TPIC since 15 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 8 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TPIC analysts setting a high price target of $27.00 and a low target of $10.00, the average target price over the next 12 months is $17.54. Based on these targets, TPIC could surge 43.77% to reach the target high and fall by -46.75% to reach the target low. Reaching the average price target will result in a decline of -6.6% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TPIC will report FY 2022 earnings on 03/02/2023. Analysts have provided yearly estimates in a range of -$0.76 being high and -$1.82 being low. For TPIC, this leads to a yearly average estimate of -$1.37. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. TPI Composites Inc. surprised analysts by -$0.09 when it reported -$0.48 EPS against a consensus estimate of -$0.39. The surprise factor in the prior quarter was $0.05. Based on analyst estimates, the high estimate for the next quarter is $0.07 and the low estimate is -$0.43. The average estimate for the next quarter is thus -$0.25.
Summary of Insider Activity:
Insiders traded TPIC stock several times over the past three months with 12 Buys and 2 Sells. In these transactions, 30,922 shares were bought while 3,185 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 278,339 while 27,921 shares were sold.