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

TPI Composites, Inc. (NASDAQ:TPIC) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $4.58.

TPIC has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a report on Monday, August 12th. Bank of America cut their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group started coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 target price on the stock. Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 target price (down from $4.00) on shares of TPI Composites in a research report on Friday, November 15th.

TPI Composites Price Performance

NASDAQ:TPIC opened at $1.93 on Wednesday. The firm has a market capitalization of $91.79 million, a price-to-earnings ratio of -0.51 and a beta of 1.82. The company’s 50-day moving average is $3.34 and its two-hundred day moving average is $3.95. TPI Composites has a 1-year low of $1.90 and a 1-year high of $5.75.

Hedge Funds Weigh In On TPI Composites

Several institutional investors have recently added to or reduced their stakes in the business. Erste Asset Management GmbH acquired a new stake in TPI Composites during the third quarter worth about $7,854,000. Sanctuary Advisors LLC acquired a new stake in TPI Composites during the second quarter worth about $1,421,000. King Luther Capital Management Corp acquired a new stake in TPI Composites during the second quarter worth about $1,365,000. Brightline Capital Management LLC increased its stake in TPI Composites by 14.3% during the third quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock worth $7,544,000 after acquiring an additional 208,000 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in TPI Composites during the second quarter worth about $718,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.