Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $9.22

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.22.

Separately, Piper Sandler reissued a “neutral” rating and set a $3.00 target price (down previously from $4.00) on shares of TPI Composites in a report on Friday, February 23rd.

TPI Composites Stock Performance

Shares of NASDAQ:TPIC opened at $2.78 on Tuesday. The firm has a market cap of $131.97 million, a PE ratio of -0.67 and a beta of 2.03. The firm’s 50 day simple moving average is $2.79 and its 200-day simple moving average is $2.79. TPI Composites has a one year low of $1.63 and a one year high of $12.53.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $1.18. The business had revenue of $296.99 million for the quarter, compared to analysts’ expectations of $340.91 million. During the same period in the previous year, the business earned ($0.73) earnings per share. Equities research analysts predict that TPI Composites will post -1.47 EPS for the current fiscal year.

Institutional Trading of TPI Composites

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Oaktree Capital Management LP increased its stake in shares of TPI Composites by 556.5% during 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 purchasing an additional 3,899,903 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of TPI Composites by 43.1% during the third quarter. Handelsbanken Fonder AB now owns 1,299,695 shares of the industrial products company’s stock worth $3,444,000 after purchasing an additional 391,463 shares in the last quarter. Carmignac Gestion increased its stake in shares of TPI Composites by 10.2% during the third quarter. Carmignac Gestion now owns 1,099,383 shares of the industrial products company’s stock worth $2,913,000 after purchasing an additional 102,005 shares in the last quarter. Covalis Capital LLP purchased a new stake in shares of TPI Composites during the third quarter worth about $2,163,000. Finally, Rock Point Advisors LLC increased its stake in shares of TPI Composites by 98.9% during the third quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after purchasing an additional 314,715 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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.