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

TPI Composites, Inc. (NASDAQ:TPIC) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.58.

Several brokerages have recently issued reports on TPIC. Bank of America reduced their price target on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th.

TPI Composites Stock Performance

TPIC opened at $1.95 on Friday. The stock has a fifty day moving average price of $2.30 and a 200 day moving average price of $3.55. TPI Composites has a 1 year low of $1.10 and a 1 year high of $5.75. The stock has a market cap of $92.75 million, a price-to-earnings ratio of -0.52 and a beta of 1.82.

Hedge Funds Weigh In On TPI Composites

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPIC. Quantinno Capital Management LP acquired a new stake in shares of TPI Composites in the third quarter worth $57,000. Intech Investment Management LLC acquired a new position in TPI Composites during the 3rd quarter worth $65,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in TPI Composites during the third quarter valued at about $88,000. Quantbot Technologies LP grew its position in shares of TPI Composites by 24.9% in the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 5,653 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of TPI Composites in the third quarter valued at about $155,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.