TPI Composites, Inc. (NASDAQ:TPIC) Receives Average Recommendation of “Hold” from Brokerages

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $4.58.

TPIC has been the subject of several research reports. Morgan Stanley restated an “underweight” rating and issued a $2.00 price objective (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Bank of America lowered their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on TPI Composites in a report on Thursday, October 17th. They set a “hold” rating and a $5.00 target price on the stock. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th.

TPI Composites Stock Performance

TPIC opened at $1.79 on Friday. The stock has a market capitalization of $85.14 million, a PE ratio of -0.48 and a beta of 1.82. The stock’s 50 day moving average price is $2.16 and its 200-day moving average price is $3.48. TPI Composites has a 52-week low of $1.10 and a 52-week high of $5.75.

Institutional Trading of TPI Composites

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Erste Asset Management GmbH bought a new stake in TPI Composites in the third quarter worth $7,854,000. Sanctuary Advisors LLC bought a new position in TPI Composites in the 2nd quarter worth about $1,421,000. King Luther Capital Management Corp purchased a new stake in TPI Composites during the 2nd quarter valued at about $1,365,000. Brightline Capital Management LLC increased its stake in TPI Composites by 14.3% during the 3rd quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock valued at $7,544,000 after purchasing an additional 208,000 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in TPI Composites in the second quarter worth about $718,000. Hedge funds and other 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.