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

TPI Composites, Inc. (NASDAQ:TPIC) has received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.09.

A number of research analysts recently commented on TPIC shares. Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their target price on shares of TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Piper Sandler raised 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. Roth Mkm increased their target price on TPI Composites from $3.30 to $3.75 and gave the stock a “neutral” rating in a report on Monday, May 6th. Finally, Bank of America boosted their price target on TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th.

Hedge Funds Weigh In On TPI Composites

A number of large investors have recently bought and sold shares of the company. Oaktree Capital Management LP increased its holdings in shares of TPI Composites by 556.5% during the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock worth $19,047,000 after acquiring an additional 3,899,903 shares during the last quarter. Vanguard Group Inc. grew its stake in TPI Composites by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock valued at $6,654,000 after buying an additional 72,056 shares during the last quarter. Clean Energy Transition LLP acquired a new position in TPI Composites in the 4th quarter valued at about $1,620,000. King Luther Capital Management Corp acquired a new position in TPI Composites in the 2nd quarter valued at about $1,365,000. Finally, KBC Group NV grew its stake in TPI Composites by 5.9% in the 4th quarter. KBC Group NV now owns 318,049 shares of the industrial products company’s stock valued at $1,317,000 after buying an additional 17,743 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

TPI Composites Stock Performance

NASDAQ:TPIC opened at $3.92 on Monday. The firm’s 50-day moving average is $4.14 and its 200-day moving average is $3.66. The company has a market cap of $185.18 million, a price-to-earnings ratio of -0.85 and a beta of 1.95. TPI Composites has a 52-week low of $1.63 and a 52-week high of $5.75.

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.