TPI Composites (NASDAQ:TPIC) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of TPI Composites (NASDAQ:TPIC) from a sell rating to a hold rating in a research note published on Monday.

TPIC has been the subject of several other research reports. Roth Mkm lowered their price target on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Morgan Stanley reiterated an “underweight” rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. Finally, Bank of America cut their price target 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.83.

TPI Composites Price Performance

Shares of NASDAQ TPIC opened at $1.14 on Monday. TPI Composites has a 1-year low of $1.10 and a 1-year high of $5.75. The company has a market cap of $54.04 million, a PE ratio of -0.22 and a beta of 1.82. The stock has a fifty day moving average price of $1.57 and a 200 day moving average price of $2.73.

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

Institutional Trading of TPI Composites

Large investors have recently added to or reduced their stakes in the business. Erste Asset Management GmbH bought a new position in shares of TPI Composites in the third quarter valued at approximately $7,854,000. Barclays PLC lifted its position in shares of TPI Composites by 281.4% in the 3rd quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock worth $275,000 after acquiring an additional 44,666 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of TPI Composites by 391.9% during 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. increased its position 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 valued at $663,000 after purchasing an additional 118,365 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of TPI Composites during the third quarter valued at approximately $155,000. 75.24% of the stock is owned by 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.