TPI Composites (NASDAQ:TPIC) Price Target Cut to $17.00

TPI Composites (NASDAQ:TPICGet Rating) had its price objective reduced by stock analysts at Morgan Stanley from $21.00 to $17.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s target price would suggest a potential upside of 34.60% from the company’s current price.

Several other research firms have also commented on TPIC. Raymond James lowered their price target on shares of TPI Composites from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, October 13th. StockNews.com assumed coverage on shares of TPI Composites in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Piper Sandler dropped their price objective on shares of TPI Composites from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, October 17th. JPMorgan Chase & Co. lowered their price target on shares of TPI Composites from $21.00 to $20.00 in a report on Thursday, December 15th. Finally, Craig Hallum raised shares of TPI Composites from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Friday, November 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, TPI Composites currently has an average rating of “Moderate Buy” and a consensus price target of $18.45.

TPI Composites Price Performance

Shares of TPIC opened at $12.63 on Tuesday. The firm has a fifty day moving average price of $10.74 and a 200 day moving average price of $13.02. TPI Composites has a 1-year low of $8.46 and a 1-year high of $25.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.47 and a quick ratio of 1.44. The stock has a market cap of $529.84 million, a PE ratio of -3.18 and a beta of 1.70.

TPI Composites (NASDAQ:TPICGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The industrial products company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.18). TPI Composites had a negative return on equity of 66.10% and a negative net margin of 6.53%. The firm had revenue of $459.27 million for the quarter, compared to analyst estimates of $468.89 million. As a group, sell-side analysts anticipate that TPI Composites will post -2.21 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TPIC. Bank of New York Mellon Corp raised its position in shares of TPI Composites by 12.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 118,970 shares of the industrial products company’s stock worth $1,343,000 after buying an additional 13,578 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of TPI Composites by 13.4% in the third quarter. Baird Financial Group Inc. now owns 64,722 shares of the industrial products company’s stock worth $730,000 after acquiring an additional 7,626 shares in the last quarter. Sandia Investment Management LP purchased a new position in TPI Composites during the third quarter valued at approximately $56,000. BNP Paribas Arbitrage SNC grew its position in TPI Composites by 44.2% during the third quarter. BNP Paribas Arbitrage SNC now owns 93,468 shares of the industrial products company’s stock valued at $1,054,000 after purchasing an additional 28,633 shares in the last quarter. Finally, State Street Corp grew its position in TPI Composites by 3.7% during the third quarter. State Street Corp now owns 1,445,987 shares of the industrial products company’s stock valued at $16,311,000 after purchasing an additional 50,922 shares in the last quarter. 82.07% of the stock is owned by institutional investors and hedge funds.

TPI Composites Company Profile

(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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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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