Brokerages Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $4.74

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.58.

Several research firms have recently weighed in on TPIC. 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 for the company. Evercore ISI raised TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Bank of America reduced their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price target (down from $4.00) on shares of TPI Composites in a report on Friday. Finally, Piper Sandler raised their price objective on TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a research note on Monday, August 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of TPI Composites during the second quarter valued at approximately $44,000. State Board of Administration of Florida Retirement System increased its position in TPI Composites by 55.2% in the 1st 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 period. Quantinno Capital Management LP bought a new stake in TPI Composites during the 3rd quarter valued at $57,000. Intech Investment Management LLC acquired a new position in TPI Composites during the 3rd quarter worth $65,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in TPI Composites during the 1st quarter worth $77,000. 75.24% of the stock is currently owned by institutional investors.

TPI Composites Trading Down 8.8 %

Shares of NASDAQ:TPIC opened at $2.17 on Friday. TPI Composites has a 12-month low of $1.90 and a 12-month high of $5.75. The firm has a market cap of $103.21 million, a PE ratio of -0.58 and a beta of 1.93. The company has a fifty day simple moving average of $3.88 and a 200 day simple moving average of $4.10.

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.