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

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $5.09.

TPIC has been the subject of several research reports. Piper Sandler increased their price objective on shares of TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their target price on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. 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 report on Wednesday, July 17th. Finally, Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a report on Monday, August 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Oaktree Capital Management LP boosted its holdings in shares of TPI Composites by 556.5% in the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock valued at $19,047,000 after buying an additional 3,899,903 shares during the last quarter. Clean Energy Transition LLP acquired a new stake in TPI Composites in the fourth quarter valued at $1,620,000. Sanctuary Advisors LLC bought a new position in shares of TPI Composites in the 2nd quarter valued at about $1,421,000. King Luther Capital Management Corp acquired a new position in shares of TPI Composites during the 2nd quarter worth about $1,365,000. Finally, LRI Investments LLC bought a new stake in shares of TPI Composites in the 1st quarter valued at about $863,000. 75.24% of the stock is currently owned by institutional investors.

TPI Composites Trading Up 4.8 %

TPIC stock opened at $4.58 on Friday. TPI Composites has a 1-year low of $1.63 and a 1-year high of $5.75. The firm has a market cap of $217.78 million, a PE ratio of -1.00 and a beta of 1.91. The business’s 50-day moving average price is $4.09 and its two-hundred day moving average price is $3.80.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The company had revenue of $309.82 million during the quarter, compared to analyst estimates of $313.76 million. On average, analysts forecast that TPI Composites will post -2.85 earnings per share for the current year.

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.