TPI Composites (NASDAQ:TPIC) Earns Underweight Rating from Morgan Stanley

TPI Composites (NASDAQ:TPIC)‘s stock had its “underweight” rating restated by stock analysts at Morgan Stanley in a research note issued to investors on Friday, Marketbeat reports. They presently have a $2.00 price objective on the industrial products company’s stock, down from their previous price objective of $4.00. Morgan Stanley’s price target would suggest a potential downside of 7.83% from the stock’s previous close.

TPIC has been the subject of a number of other reports. Evercore ISI raised TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Jefferies Financial Group assumed coverage on shares of TPI Composites in a report on Thursday, October 17th. They set a “hold” rating and a $5.00 price objective on the stock. Piper Sandler lifted their price target on shares of TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Bank of America decreased their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.58.

TPI Composites Stock Performance

Shares of TPIC opened at $2.17 on Friday. The firm’s fifty day simple moving average is $3.85 and its 200-day simple moving average is $4.10. TPI Composites has a twelve month low of $1.90 and a twelve month high of $5.75.

Hedge Funds Weigh In On TPI Composites

A number of hedge funds and other institutional investors have recently made changes to their positions in TPIC. SG Americas Securities LLC purchased a new position in shares of TPI Composites in the 2nd quarter valued at approximately $44,000. State Board of Administration of Florida Retirement System grew 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 buying an additional 5,930 shares during the last quarter. Quantinno Capital Management LP acquired a new position in TPI Composites in the 3rd quarter valued at $57,000. Intech Investment Management LLC purchased a new position in TPI Composites during the 3rd quarter worth $65,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of TPI Composites in the 1st quarter worth $77,000. 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.