TPI Composites (NASDAQ:TPIC) Coverage Initiated by Analysts at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group assumed coverage on shares of TPI Composites (NASDAQ:TPIC) in a research note issued on Thursday, Briefing.com reports. The firm set a “hold” rating and a $5.00 price target on the industrial products company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 6.38% from the company’s previous close.

Several other analysts have also issued reports on TPIC. Bank of America upped 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. Evercore ISI raised TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Piper Sandler upped their target price on TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their target price on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.08.

TPI Composites Trading Down 1.7 %

Shares of NASDAQ TPIC opened at $4.70 on Thursday. TPI Composites has a 12 month low of $1.63 and a 12 month high of $5.75. The firm has a market capitalization of $222.03 million, a price-to-earnings ratio of -1.02 and a beta of 1.91. The business has a 50-day moving average of $4.17 and a 200-day moving average of $4.03.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data 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 the consensus estimate of $313.76 million. On average, analysts predict that TPI Composites will post -2.85 earnings per share for the current year.

Institutional Trading of TPI Composites

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new position in shares of TPI Composites during the second quarter valued at approximately $1,421,000. King Luther Capital Management Corp bought a new position in shares of TPI Composites during the second quarter valued at approximately $1,365,000. LRI Investments LLC bought a new position in shares of TPI Composites during the first quarter valued at approximately $863,000. DRW Securities LLC bought a new position in shares of TPI Composites during the second quarter valued at approximately $718,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of TPI Composites during the first quarter valued at approximately $312,000. Institutional investors own 75.24% of the company’s stock.

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.