Roth Mkm Lowers TPI Composites (NASDAQ:TPIC) Price Target to $1.50

TPI Composites (NASDAQ:TPIC) had its price objective trimmed by Roth Mkm from $2.75 to $1.50 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 target price (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Finally, Bank of America cut their price objective on shares of 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.20.

TPI Composites Trading Down 0.3 %

NASDAQ:TPIC opened at $1.46 on Friday. TPI Composites has a 12 month low of $1.10 and a 12 month high of $5.75. The firm has a fifty day simple moving average of $1.57 and a 200-day simple moving average of $2.80.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) 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. On average, sell-side analysts predict that TPI Composites will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On TPI Composites

Several hedge funds have recently bought and sold shares of the stock. Erste Asset Management GmbH purchased a new position in shares of TPI Composites during the 3rd quarter valued at approximately $7,854,000. Brightline Capital Management LLC increased its holdings in TPI Composites by 2.5% in the fourth quarter. Brightline Capital Management LLC now owns 1,700,000 shares of the industrial products company’s stock valued at $3,213,000 after buying an additional 42,000 shares in the last quarter. Bank of America Corp DE increased its holdings in TPI Composites by 1.0% in the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock valued at $2,085,000 after buying an additional 10,611 shares in the last quarter. Geode Capital Management LLC raised its position in shares of TPI Composites by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock worth $1,931,000 after acquiring an additional 16,034 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in shares of TPI Composites by 8.2% during the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock worth $548,000 after acquiring an additional 22,005 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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.