TPI Composites, Inc. (NASDAQ:TPIC) Given Consensus Rating of “Moderate Buy” by Brokerages

TPI Composites, Inc. (NASDAQ:TPIC) has been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.09.

Several equities analysts recently commented on TPIC shares. JPMorgan Chase & Co. increased their price objective on shares of TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Bank of America boosted their price objective on shares of TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Piper Sandler raised 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.

Institutional Investors Weigh In On TPI Composites

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPIC. Oaktree Capital Management LP boosted its stake in shares of TPI Composites by 556.5% in the fourth quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock worth $19,047,000 after buying an additional 3,899,903 shares during the last quarter. Clean Energy Transition LLP acquired a new position in TPI Composites in the fourth quarter valued at approximately $1,620,000. Sanctuary Advisors LLC purchased a new stake in TPI Composites in the 2nd quarter worth approximately $1,421,000. King Luther Capital Management Corp acquired a new stake in shares of TPI Composites during the 2nd quarter worth approximately $1,365,000. Finally, LRI Investments LLC acquired a new position in shares of TPI Composites in the 1st quarter valued at $863,000. 75.24% of the stock is owned by institutional investors and hedge funds.

TPI Composites Stock Up 1.8 %

NASDAQ TPIC opened at $4.55 on Friday. The company has a 50 day moving average price of $4.09 and a 200 day moving average price of $3.85. The firm has a market cap of $214.95 million, a PE ratio of -0.99 and a beta of 1.91. TPI Composites has a 52 week low of $1.63 and a 52 week high of $5.75.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The company had revenue of $309.82 million during the quarter, compared to analysts’ expectations of $313.76 million. On average, equities research analysts anticipate that TPI Composites will post -2.85 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.