UBS Group Cuts TPI Composites (NASDAQ:TPIC) Price Target to $1.60

TPI Composites (NASDAQ:TPIC) had its price target decreased by UBS Group from $2.40 to $1.60 in a research note issued to investors on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

A number of other research firms also recently weighed in on TPIC. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a report on Monday. Roth Mkm dropped their price objective 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. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Bank of America lowered their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price target (down from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.83.

TPI Composites Stock Performance

Shares of TPIC opened at $1.04 on Tuesday. The firm’s 50-day simple moving average is $1.57 and its 200 day simple moving average is $2.72. The firm has a market cap of $49.51 million, a P/E ratio of -0.21 and a beta of 1.82. TPI Composites has a 52 week low of $1.01 and a 52 week high of $5.75.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The firm had revenue of $346.51 million during the quarter, compared to the consensus estimate of $364.83 million. As a group, equities analysts forecast that TPI Composites will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In other TPI Composites news, major shareholder Construction Taahhut A.S. Dere acquired 66,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $1.44 per share, for a total transaction of $95,040.00. Following the transaction, the insider now directly owns 4,295,232 shares in the company, valued at $6,185,134.08. This represents a 1.56 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have bought 205,000 shares of company stock worth $307,050. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Erste Asset Management GmbH bought a new stake in shares of TPI Composites during the 3rd quarter valued at approximately $7,854,000. Brightline Capital Management LLC grew its stake in shares of TPI Composites by 2.5% during the fourth quarter. Brightline Capital Management LLC now owns 1,700,000 shares of the industrial products company’s stock worth $3,213,000 after buying an additional 42,000 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of TPI Composites by 1.0% during the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock worth $2,085,000 after buying an additional 10,611 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of TPI Composites by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock worth $1,931,000 after buying an additional 16,034 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of TPI Composites by 8.2% in the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock valued at $548,000 after acquiring an additional 22,005 shares during the last quarter. Institutional investors and hedge funds 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.