TPI Composites (NASDAQ:TPIC) Given “Underweight” Rating at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of TPI Composites (NASDAQ:TPIC) in a research note published on Friday morning, MarketBeat.com reports. The brokerage currently has a $2.00 target price on the industrial products company’s stock, down from their prior target price of $4.00.

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

TPI Composites Stock Down 5.1 %

Shares of TPI Composites stock opened at $2.06 on Friday. The company has a market cap of $97.98 million, a PE ratio of -0.58 and a beta of 1.93. TPI Composites has a 52 week low of $1.90 and a 52 week high of $5.75. The business has a 50 day moving average price of $3.85 and a 200-day moving average price of $4.11.

Institutional Trading of TPI Composites

A number of institutional investors and hedge funds have recently modified their holdings of TPIC. SG Americas Securities LLC bought a new position in TPI Composites during the second quarter valued at $44,000. State Board of Administration of Florida Retirement System grew its holdings in TPI Composites by 55.2% during the first 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 purchasing an additional 5,930 shares during the period. Quantinno Capital Management LP bought a new position in TPI Composites during the third quarter valued at $57,000. Intech Investment Management LLC bought a new position in TPI Composites during the third quarter valued at $65,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in TPI Composites during the first quarter valued at $77,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

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.