TPI Composites (NASDAQ:TPIC) Earns Hold Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of TPI Composites (NASDAQ:TPIC) in a report issued on Thursday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $5.00 target price on the industrial products company’s stock.

Several other analysts have also recently weighed in on TPIC. Bank of America increased their price target on shares of TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. increased their price objective on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Piper Sandler upped their price target on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research note on Monday, August 12th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TPI Composites has an average rating of “Moderate Buy” and an average target price of $5.08.

TPI Composites Stock Performance

NASDAQ TPIC opened at $4.28 on Thursday. TPI Composites has a fifty-two week low of $1.63 and a fifty-two week high of $5.75. The firm has a market capitalization of $201.96 million, a P/E ratio of -0.93 and a beta of 1.91. The stock’s fifty day moving average is $4.19 and its two-hundred day moving average is $4.05.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The firm had revenue of $309.82 million for the quarter, compared to analysts’ expectations of $313.76 million. As a group, sell-side analysts forecast that TPI Composites will post -2.85 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in TPI Composites by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock worth $6,654,000 after acquiring an additional 72,056 shares in the last quarter. Sanctuary Advisors LLC purchased 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 shares of TPI Composites during the second quarter worth about $1,365,000. LRI Investments LLC purchased a new position in shares of TPI Composites in the first quarter valued at approximately $863,000. Finally, DRW Securities LLC acquired a new position in shares of TPI Composites in the second quarter valued at approximately $718,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

About TPI Composites

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.