TPI Composites (NASDAQ:TPIC) Given New $1.60 Price Target at UBS Group

TPI Composites (NASDAQ:TPIC) had its target price trimmed by UBS Group from $2.40 to $1.60 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price target (down from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday. Roth Mkm lowered their price target on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Finally, Bank of America dropped their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.83.

TPI Composites Price Performance

TPIC stock opened at $1.22 on Tuesday. The stock has a market capitalization of $58.08 million, a P/E ratio of -0.24 and a beta of 1.82. TPI Composites has a fifty-two week low of $1.10 and a fifty-two week high of $5.75. The business has a 50-day moving average of $1.58 and a 200-day moving average of $2.76.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The business had revenue of $346.51 million during the quarter, compared to analysts’ expectations of $364.83 million. Equities analysts expect that TPI Composites will post -0.9 EPS for the current year.

Institutional Investors Weigh In On TPI Composites

Large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP boosted its position in TPI Composites by 24.9% during the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 5,653 shares during the period. Barclays PLC boosted its holdings in shares of TPI Composites by 14.9% during the 4th quarter. Barclays PLC now owns 69,542 shares of the industrial products company’s stock worth $131,000 after buying an additional 9,004 shares during the period. Peoples Bank KS raised its holdings in TPI Composites by 100.0% in the 4th quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 10,000 shares during the period. Cedar Point Capital Partners LLC lifted its position in TPI Composites by 100.0% during the fourth quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in TPI Composites by 1.0% during the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock worth $2,085,000 after acquiring an additional 10,611 shares during the last quarter. Institutional investors 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.