Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) PT at $4.58

TPI Composites, Inc. (NASDAQ:TPIC) has been given an average rating of “Hold” by the seven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has given a buy recommendation and one has given a strong 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 $4.58.

Several brokerages have commented on TPIC. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Jefferies Financial Group assumed coverage on TPI Composites in a report on Thursday, October 17th. They set a “hold” rating and a $5.00 price target for the company. Finally, Bank of America reduced their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

Institutional Investors Weigh In On TPI Composites

Several large investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP purchased a new position in shares of TPI Composites in the 3rd quarter worth approximately $57,000. Intech Investment Management LLC bought a new stake in TPI Composites in the third quarter worth $65,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in TPI Composites during the third quarter worth $88,000. Peoples Bank KS boosted its stake in TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after buying an additional 10,000 shares during the period. Finally, Cedar Point Capital Partners LLC increased its position in TPI Composites by 100.0% during the fourth quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 10,000 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

TPI Composites Trading Down 6.0 %

Shares of TPIC opened at $1.56 on Thursday. The business’s 50 day moving average is $1.70 and its 200 day moving average is $3.14. TPI Composites has a 12-month low of $1.10 and a 12-month high of $5.75. The company has a market capitalization of $74.20 million, a PE ratio of -0.42 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.47). The firm had revenue of $380.76 million for the quarter, compared to analysts’ expectations of $346.50 million. During the same quarter in the prior year, the firm posted ($1.71) EPS. Equities research analysts predict that TPI Composites will post -3.8 earnings per share for the current 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.