Brokerages Set TPI Composites, Inc. (NASDAQ:TPIC) Target Price at $4.58

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned a consensus rating of “Hold” from the seven analysts that are covering the company, Marketbeat Ratings reports. One equities 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 1-year target price among brokers that have covered the stock in the last year is $4.58.

A number of equities research analysts have recently commented on TPIC shares. Bank of America lowered their price target on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group started coverage on shares of TPI Composites in a report on Thursday, October 17th. They set a “hold” rating and a $5.00 price target for the company. Morgan Stanley reiterated an “underweight” rating and set a $2.00 price target (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th.

Institutional Investors Weigh In On TPI Composites

Several institutional investors have recently bought and sold shares of the business. Swedbank AB grew its stake in TPI Composites by 210.6% during the fourth quarter. Swedbank AB now owns 131,063 shares of the industrial products company’s stock worth $248,000 after buying an additional 88,868 shares during the period. Sustainable Insight Capital Management LLC purchased a new stake in TPI Composites during the fourth quarter worth approximately $80,000. Cedar Point Capital Partners LLC grew its stake 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 worth $38,000 after buying an additional 10,000 shares during the period. Peoples Bank KS grew 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, JPMorgan Chase & Co. grew its stake in 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 buying 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 Trading Up 4.2 %

Shares of TPIC opened at $1.75 on Thursday. The stock has a market cap of $83.23 million, a P/E ratio of -0.47 and a beta of 1.82. The company has a 50-day moving average of $1.72 and a two-hundred day moving average of $3.18. TPI Composites has a 12-month low of $1.10 and a 12-month high of $5.75.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.47). The firm had revenue of $380.76 million for the quarter, compared to analyst estimates of $346.50 million. During the same period in the previous year, the business posted ($1.71) EPS. As a group, analysts forecast that TPI Composites will post -3.8 EPS for the current fiscal 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.