TPI Composites (NASDAQ:TPIC) Raised to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of TPI Composites (NASDAQ:TPIC) to a strong-buy rating in a research report sent to investors on Monday morning, Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler lifted their price target on shares of TPI Composites from $3.50 to $3.70 and gave the stock a neutral rating in a research note on Monday. Roth Mkm boosted their price target on TPI Composites from $3.30 to $3.75 and gave the stock a neutral rating in a research note on Monday, May 6th. JPMorgan Chase & Co. lifted their price objective on TPI Composites from $8.00 to $9.00 and gave the stock an overweight rating in a report on Tuesday, July 16th. Finally, Bank of America increased their target price on TPI Composites from $5.00 to $6.00 and gave the company a buy rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, TPI Composites has an average rating of Hold and a consensus target price of $5.09.

TPI Composites Stock Performance

TPI Composites stock opened at $3.74 on Monday. The stock’s 50 day moving average price is $4.26 and its 200 day moving average price is $3.60. TPI Composites has a one year low of $1.63 and a one year high of $5.75. The firm has a market capitalization of $177.84 million, a PE ratio of -0.81 and a beta of 1.95.

Institutional Trading of TPI Composites

Several institutional investors have recently added to or reduced their stakes in TPIC. Perigon Wealth Management LLC acquired a new position in TPI Composites in the first quarter valued at approximately $36,000. Cedar Point Capital Partners LLC acquired a new position in TPI Composites during the 4th quarter valued at approximately $41,000. SG Americas Securities LLC bought a new position in TPI Composites during the 2nd quarter worth $44,000. State Board of Administration of Florida Retirement System increased its position in TPI Composites by 55.2% in the first 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 buying an additional 5,930 shares during the period. Finally, Fiduciary Trust Co bought a new stake in TPI Composites in the fourth quarter valued at $54,000. Institutional investors own 75.24% of the company’s stock.

About TPI Composites

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.