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

TPI Composites, Inc. (NASDAQ:TPIC) has been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $4.74.

TPIC has been the subject of a number of recent research reports. Jefferies Financial Group started coverage on TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price target for the company. Piper Sandler increased 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. Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Bank of America cut their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th.

Hedge Funds Weigh In On TPI Composites

Large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in TPI Composites in the 2nd quarter worth approximately $1,421,000. King Luther Capital Management Corp bought a new stake in TPI Composites in the 2nd quarter valued at $1,365,000. LRI Investments LLC acquired a new stake in TPI Composites in the 1st quarter worth $863,000. DRW Securities LLC bought a new position in shares of TPI Composites during the 2nd quarter worth about $718,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of TPI Composites during the first quarter valued at about $312,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

TPI Composites Stock Performance

TPI Composites stock opened at $2.82 on Friday. TPI Composites has a twelve month low of $1.90 and a twelve month high of $5.75. The firm has a market cap of $133.85 million, a PE ratio of -0.61 and a beta of 1.93. The firm’s 50 day moving average price is $4.01 and its two-hundred day moving average price is $4.11.

TPI Composites (NASDAQ:TPIC) last announced 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. Equities analysts anticipate that TPI Composites will post -2.88 EPS for the current fiscal 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.