Roth Capital Upgrades TPI Composites (NASDAQ:TPIC) to Buy

TPI Composites (NASDAQ:TPIC – Get Rating) was upgraded by Roth Capital from a “neutral” rating to a “buy” rating in a report issued on Friday, The Fly reports.

TPIC has been the subject of several other research reports. Morgan Stanley restated an “equal weight” rating and issued a $21.00 price objective (down previously from $37.00) on shares of TPI Composites in a research note on Monday, February 28th. JPMorgan Chase & Co. decreased their target price on shares of TPI Composites from $33.00 to $27.00 in a research note on Thursday, January 20th. StockNews.com initiated coverage on shares of TPI Composites in a research note on Thursday, March 31st. They set a “sell” rating for the company. Piper Sandler decreased their target price on shares of TPI Composites from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, March 14th. Finally, Stifel Nicolaus decreased their target price on shares of TPI Composites from $27.00 to $17.00 in a research note on Friday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, TPI Composites currently has a consensus rating of “Hold” and a consensus price target of $28.62.

TPI Composites stock opened at $12.36 on Friday. TPI Composites has a twelve month low of $9.23 and a twelve month high of $51.79. The stock’s fifty day simple moving average is $13.48 and its 200-day simple moving average is $16.20. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $460.51 million, a P/E ratio of -2.84 and a beta of 1.58.

TPI Composites (NASDAQ:TPIC – Get Rating) last posted its earnings results on Thursday, May 5th. The industrial products company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.19. TPI Composites had a negative return on equity of 71.53% and a negative net margin of 9.21%. The firm had revenue of $384.90 million for the quarter, compared to analyst estimates of $392.92 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. TPI Composites’s revenue for the quarter was down 4.9% compared to the same quarter last year. Sell-side analysts predict that TPI Composites will post -1.81 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of TPI Composites by 6.5% during the 4th quarter. BlackRock Inc. now owns 3,881,844 shares of the industrial products company’s stock valued at $58,072,000 after acquiring an additional 236,659 shares during the period. Schroder Investment Management Group lifted its position in shares of TPI Composites by 20.5% during the 3rd quarter. Schroder Investment Management Group now owns 2,470,586 shares of the industrial products company’s stock valued at $83,382,000 after acquiring an additional 421,098 shares during the period. Morgan Stanley lifted its position in shares of TPI Composites by 1.8% during the 3rd quarter. Morgan Stanley now owns 1,669,162 shares of the industrial products company’s stock valued at $56,334,000 after acquiring an additional 29,915 shares during the period. Invesco Ltd. lifted its position in shares of TPI Composites by 74.5% during the 4th quarter. Invesco Ltd. now owns 1,650,828 shares of the industrial products company’s stock valued at $24,696,000 after acquiring an additional 704,646 shares during the period. Finally, State Street Corp lifted its position in shares of TPI Composites by 66.1% during the 4th quarter. State Street Corp now owns 1,499,812 shares of the industrial products company’s stock valued at $22,437,000 after acquiring an additional 596,792 shares during the period.

About TPI Composites (Get Rating)

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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