TPI Composites, Inc. (NASDAQ:TPIC) Receives $4.58 Consensus Target Price from Analysts

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $4.20.

A number of equities research analysts have issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 target price (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Bank of America reduced their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Roth Mkm reduced their price objective on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research report on Friday.

TPI Composites Stock Down 0.3 %

Shares of TPI Composites stock opened at $1.46 on Monday. The stock has a market capitalization of $69.20 million, a P/E ratio of -0.39 and a beta of 1.82. The stock has a 50 day moving average price of $1.57 and a two-hundred day moving average price of $2.80. TPI Composites has a 12-month low of $1.10 and a 12-month high of $5.75.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The business had revenue of $346.51 million during the quarter, compared to analysts’ expectations of $364.83 million. Sell-side analysts anticipate that TPI Composites will post -3.8 earnings per share for the current year.

Institutional Investors Weigh In On TPI Composites

Several hedge funds have recently modified their holdings of the business. Alpine Global Management LLC acquired a new position in shares of TPI Composites in the fourth quarter valued at $38,000. Squarepoint Ops LLC raised its stake in shares of TPI Composites by 469.2% in the fourth quarter. Squarepoint Ops LLC now owns 59,763 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 49,263 shares in the last quarter. Graham Capital Management L.P. acquired a new position in shares of TPI Composites in the fourth quarter valued at $105,000. Deutsche Bank AG raised its stake in shares of TPI Composites by 39.0% in the fourth quarter. Deutsche Bank AG now owns 179,648 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 50,422 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of TPI Composites by 1.0% in the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock valued at $2,085,000 after purchasing an additional 10,611 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

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.