TPI Composites (NASDAQ:TPIC) Receives “Underweight” Rating from Morgan Stanley

TPI Composites (NASDAQ:TPIC)‘s stock had its “underweight” rating reissued by investment analysts at Morgan Stanley in a research note issued to investors on Friday,Benzinga reports. They presently have a $2.00 target price on the industrial products company’s stock, down from their prior target price of $4.00. Morgan Stanley’s target price suggests a potential downside of 15.97% from the stock’s previous close.

Other analysts have also issued reports about the company. Bank of America dropped their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Jefferies Financial Group initiated coverage on shares of TPI Composites in a research report on Thursday, October 17th. They issued a “hold” rating and a $5.00 target price on the stock. Finally, Piper Sandler upped their price target on shares of TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TPI Composites has a consensus rating of “Hold” and a consensus price target of $4.58.

TPI Composites Stock Performance

TPIC opened at $2.38 on Friday. The company has a fifty day moving average of $3.91 and a two-hundred day moving average of $4.11. The stock has a market capitalization of $113.19 million, a price-to-earnings ratio of -0.63 and a beta of 1.93. TPI Composites has a fifty-two week low of $1.90 and a fifty-two week high of $5.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPIC. SG Americas Securities LLC acquired a new position in TPI Composites in the 2nd quarter valued at about $44,000. State Board of Administration of Florida Retirement System lifted its holdings in TPI Composites by 55.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 5,930 shares during the last quarter. Intech Investment Management LLC purchased a new position in TPI Composites in the third quarter worth approximately $65,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in TPI Composites in the first quarter worth approximately $77,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in TPI Composites during the third quarter worth $88,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.