TPI Composites (NASDAQ:TPIC) Rating Lowered to Underperform at Jefferies Financial Group

Jefferies Financial Group lowered shares of TPI Composites (NASDAQ:TPIC) from a hold rating to an underperform rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. They currently have $0.50 price objective on the industrial products company’s stock, down from their previous price objective of $2.30.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. UBS Group decreased their price target on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Roth Mkm reduced their target price on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.19.

TPI Composites Price Performance

Shares of TPIC stock opened at $0.89 on Tuesday. The company’s fifty day simple moving average is $1.33 and its two-hundred day simple moving average is $2.41. TPI Composites has a 1 year low of $0.88 and a 1 year high of $5.75. The stock has a market capitalization of $42.21 million, a price-to-earnings ratio of -0.17 and a beta of 2.07.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The firm had revenue of $346.51 million for the quarter, compared to analysts’ expectations of $364.83 million. Equities research analysts anticipate that TPI Composites will post -0.9 EPS for the current year.

Insider Buying and Selling at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere bought 66,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was bought at an average cost of $1.44 per share, for a total transaction of $95,040.00. Following the completion of the acquisition, the insider now owns 4,295,232 shares in the company, valued at approximately $6,185,134.08. This trade represents a 1.56 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders acquired a total of 205,000 shares of company stock worth $307,050 over the last three months. Company insiders own 3.70% of the company’s stock.

Institutional Trading of TPI Composites

Institutional investors have recently modified their holdings of the company. Erste Asset Management GmbH purchased a new stake in shares of TPI Composites during the third quarter worth about $7,854,000. Barclays PLC boosted its holdings in shares of TPI Composites by 281.4% during the third quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock worth $275,000 after purchasing an additional 44,666 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of TPI Composites by 8.2% during the fourth quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock worth $548,000 after purchasing an additional 22,005 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of TPI Composites by 391.9% during the third quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 51,502 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of TPI Composites by 433.6% during the third quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock worth $663,000 after purchasing an additional 118,365 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.