TPI Composites, Inc. (NASDAQ:TPIC) Receives $4.58 Average PT from Brokerages

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received an average rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.58.

Several research firms have recently weighed in on TPIC. Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Piper Sandler raised their price target on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price objective (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Bank of America decreased 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. Finally, Jefferies Financial Group initiated coverage on TPI Composites in a research note on Thursday, October 17th. They issued a “hold” rating and a $5.00 target price for the company.

TPI Composites Price Performance

Shares of TPI Composites stock opened at $1.58 on Wednesday. TPI Composites has a 1 year low of $1.57 and a 1 year high of $5.75. The firm has a market cap of $75.15 million, a PE ratio of -0.42 and a beta of 1.82. The company has a 50 day simple moving average of $3.18 and a two-hundred day simple moving average of $3.89.

Institutional Investors Weigh In On TPI Composites

Several institutional investors have recently bought and sold shares of the stock. Erste Asset Management GmbH purchased a new position in TPI Composites in the 3rd quarter worth approximately $7,854,000. Price T Rowe Associates Inc. MD increased its stake in shares of TPI Composites by 12.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock worth $100,000 after buying an additional 3,737 shares during the period. Tidal Investments LLC raised its holdings in TPI Composites by 69.0% during the 1st quarter. Tidal Investments LLC now owns 140,010 shares of the industrial products company’s stock valued at $407,000 after buying an additional 57,156 shares during the last quarter. Vanguard Group Inc. boosted its position in TPI Composites by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock valued at $6,654,000 after buying an additional 72,056 shares during the period. Finally, DRW Securities LLC bought a new stake in TPI Composites in the 2nd quarter worth $718,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.