Brokerages Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $3.83

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $3.83.

A number of research firms have issued reports on TPIC. UBS Group lowered their target price on TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Roth Mkm lowered their target price on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a report on Friday, February 21st. StockNews.com upgraded TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th.

TPI Composites Trading Up 10.3 %

Shares of TPI Composites stock opened at $1.07 on Friday. The company has a market capitalization of $50.94 million, a PE ratio of -0.21 and a beta of 2.07. TPI Composites has a 12 month low of $0.96 and a 12 month high of $5.75. The stock’s fifty day simple moving average is $1.38 and its 200 day simple moving average is $2.48.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) 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. Analysts predict that TPI Composites will post -0.9 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Construction Taahhut A.S. Dere bought 66,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $1.44 per share, for a total transaction of $95,040.00. Following the purchase, the insider now owns 4,295,232 shares of the company’s stock, valued at approximately $6,185,134.08. This trade represents a 1.56 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased 205,000 shares of company stock worth $307,050 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On TPI Composites

Hedge funds have recently bought and sold shares of the company. Erste Asset Management GmbH acquired a new stake in TPI Composites in the 3rd quarter valued at about $7,854,000. Barclays PLC lifted its position in TPI Composites by 281.4% during the third quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock worth $275,000 after acquiring an additional 44,666 shares during the last quarter. Sanctuary Advisors LLC lifted its position in TPI Composites by 8.2% during the fourth quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock worth $548,000 after acquiring an additional 22,005 shares during the last quarter. BNP Paribas Financial Markets lifted its position in TPI Composites by 391.9% during the third quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 51,502 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in TPI Composites by 433.6% during the third quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock worth $663,000 after acquiring an additional 118,365 shares during the last quarter. 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.