TPI Composites, Inc. (NASDAQ:TPIC) Receives $3.83 Consensus Target Price from Analysts

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $3.19.

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Roth Mkm lowered their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research note on Friday, February 21st. Jefferies Financial Group downgraded shares of TPI Composites from a “hold” rating to an “underperform” rating and lowered their target price for the company from $2.30 to $0.50 in a research note on Tuesday. UBS Group lowered their target price on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, StockNews.com upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th.

Insider Transactions at TPI Composites

In related news, major shareholder Construction Taahhut A.S. Dere acquired 80,000 shares of the stock in a transaction dated Monday, February 24th. The stock was acquired at an average cost of $1.52 per share, for a total transaction of $121,600.00. Following the completion of the purchase, the insider now owns 4,397,232 shares of the company’s stock, valued at approximately $6,683,792.64. This represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 205,000 shares of company stock worth $307,050. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP raised its holdings in shares of TPI Composites by 24.9% during the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 5,653 shares during the last quarter. Barclays PLC raised its holdings in shares of TPI Composites by 14.9% during the fourth quarter. Barclays PLC now owns 69,542 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 9,004 shares during the last quarter. Peoples Bank KS raised its holdings in shares of TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 10,000 shares during the last quarter. Cedar Point Capital Partners LLC raised its holdings in shares of TPI Composites by 100.0% during the fourth quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in 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 buying an additional 10,611 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Stock Performance

NASDAQ TPIC opened at $1.04 on Friday. The firm’s 50 day moving average price is $1.35 and its 200-day moving average price is $2.43. TPI Composites has a 52-week low of $0.96 and a 52-week high of $5.75. The company has a market cap of $49.51 million, a PE ratio of -0.21 and a beta of 2.07.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data 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 firm had revenue of $346.51 million for the quarter, compared to analysts’ expectations of $364.83 million. On average, analysts forecast that TPI Composites will post -0.9 earnings per share for the current fiscal year.

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.