TPI Composites, Inc. (NASDAQ:TPIC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have earned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $4.20.

Several analysts recently commented on TPIC shares. Morgan Stanley restated an “underweight” rating and set a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Roth Mkm lowered their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Finally, Bank of America reduced their price target on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th.

TPI Composites Stock Down 0.3 %

Shares of TPIC stock opened at $1.46 on Monday. TPI Composites has a 52-week low of $1.10 and a 52-week high of $5.75. The stock has a market cap of $69.20 million, a PE ratio of -0.29 and a beta of 1.82. The business has a 50-day simple moving average of $1.58 and a 200-day simple moving average of $2.78.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TPIC. Erste Asset Management GmbH acquired a new stake in shares of TPI Composites in the third quarter valued at about $7,854,000. Barclays PLC raised its holdings in TPI Composites by 281.4% in the 3rd quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock valued at $275,000 after acquiring an additional 44,666 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in TPI Composites by 391.9% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in TPI Composites by 433.6% in the 3rd 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 in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of TPI Composites during the 3rd quarter worth approximately $155,000. 75.24% of the stock is owned by institutional investors and hedge funds.

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.