TPI Composites, Inc. (NASDAQ:TPIC) Receives $10.50 Average PT from Brokerages

TPI Composites, Inc. (NASDAQ:TPIC) has received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $10.50.

Several brokerages have issued reports on TPIC. Piper Sandler reissued a “neutral” rating and set a $3.00 target price (down from $4.00) on shares of TPI Composites in a research note on Friday, February 23rd. Morgan Stanley cut their target price on shares of TPI Composites from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, December 8th.

TPI Composites Stock Performance

NASDAQ TPIC opened at $2.73 on Friday. The stock has a market capitalization of $128.97 million, a P/E ratio of -0.65 and a beta of 2.03. TPI Composites has a 1 year low of $1.63 and a 1 year high of $13.68. The business’s fifty day moving average is $2.85 and its two-hundred day moving average is $2.80.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $1.18. The firm had revenue of $296.99 million for the quarter, compared to analyst estimates of $340.91 million. During the same period last year, the firm earned ($0.73) earnings per share. On average, research analysts forecast that TPI Composites will post -1.36 earnings per share for the current year.

Hedge Funds Weigh In On TPI Composites

A number of hedge funds have recently modified their holdings of the stock. Citizens Financial Group Inc. RI bought a new stake in TPI Composites in the third quarter worth $28,000. Vaughan David Investments LLC IL bought a new stake in TPI Composites in the third quarter worth $31,000. Peoples Bank KS boosted its holdings in TPI Composites by 100.0% in the fourth quarter. Peoples Bank KS now owns 10,000 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 5,000 shares in the last quarter. Cedar Point Capital Partners LLC bought a new stake in TPI Composites in the fourth quarter worth $41,000. Finally, Point72 Hong Kong Ltd boosted its holdings in TPI Composites by 1,561.5% in the second quarter. Point72 Hong Kong Ltd now owns 3,456 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 3,248 shares in the last quarter. 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.