TPI Composites, Inc. (NASDAQ:TPIC) Receives Consensus Rating of “Moderate Buy” from Brokerages

TPI Composites, Inc. (NASDAQ:TPIC) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $5.08.

TPIC has been the subject of several research reports. Bank of America lifted their price target on TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Piper Sandler lifted their price target on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a report on Monday, August 12th. Jefferies Financial Group initiated coverage on TPI Composites in a report on Thursday. They set a “hold” rating and a $5.00 price target for the company. Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price target on TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th.

TPI Composites Trading Up 1.1 %

Shares of NASDAQ TPIC opened at $4.28 on Tuesday. TPI Composites has a one year low of $1.63 and a one year high of $5.75. The firm has a market capitalization of $201.96 million, a PE ratio of -0.93 and a beta of 1.91. The business has a 50-day moving average price of $4.19 and a two-hundred day moving average price of $4.05.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.54). The business had revenue of $309.82 million during the quarter, compared to analysts’ expectations of $313.76 million. Research analysts anticipate that TPI Composites will post -2.85 EPS for the current year.

Institutional Investors Weigh In On TPI Composites

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in TPI Composites in the 2nd quarter worth approximately $1,421,000. Susquehanna Fundamental Investments LLC increased its position in TPI Composites by 8.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company’s stock worth $461,000 after buying an additional 8,550 shares during the period. Marshall Wace LLP increased its position in TPI Composites by 22.5% in the 2nd quarter. Marshall Wace LLP now owns 83,638 shares of the industrial products company’s stock worth $334,000 after buying an additional 15,369 shares during the period. Interval Partners LP bought a new position in TPI Composites in the 2nd quarter worth approximately $235,000. Finally, DRW Securities LLC bought a new position in TPI Composites in the 2nd quarter worth approximately $718,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.