TPI Composites (NASDAQ:TPIC) Price Target Cut to $7.00 by Analysts at Morgan Stanley

TPI Composites (NASDAQ:TPIC) had its price target lowered by Morgan Stanley from $16.00 to $7.00 in a research note released on Wednesday, Marketbeat.com reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

Several other research analysts also recently weighed in on TPIC. Bank of America lifted their target price on TPI Composites from $14.00 to $15.00 in a research note on Wednesday, May 24th. Johnson Rice downgraded TPI Composites from an accumulate rating to a hold rating and set a $10.00 target price on the stock. in a research note on Thursday, July 27th. BTIG Research downgraded TPI Composites from a buy rating to a neutral rating in a research note on Thursday, July 27th. Craig Hallum downgraded TPI Composites from a buy rating to a hold rating and lowered their target price for the company from $15.00 to $11.00 in a research note on Thursday, July 27th. Finally, Roth Mkm downgraded TPI Composites from a buy rating to a neutral rating and decreased their price target for the company from $15.00 to $10.00 in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, TPI Composites presently has a consensus rating of Hold and a consensus price target of $13.42.

TPI Composites Price Performance

Shares of NASDAQ TPIC opened at $4.42 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.52 and a current ratio of 1.54. TPI Composites has a fifty-two week low of $4.31 and a fifty-two week high of $19.87. The firm has a market capitalization of $188.16 million, a PE ratio of -0.97 and a beta of 1.79. The stock’s 50-day simple moving average is $7.33 and its 200-day simple moving average is $10.12.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($1.02). The firm had revenue of $381.27 million for the quarter, compared to analysts’ expectations of $380.16 million. TPI Composites had a negative return on equity of 623.20% and a negative net margin of 7.98%. As a group, equities research analysts forecast that TPI Composites will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling at TPI Composites

In other TPI Composites news, CFO Ryan D. Miller acquired 10,000 shares of the stock in a transaction on Friday, August 25th. The stock was purchased at an average price of $4.45 per share, for a total transaction of $44,500.00. Following the purchase, the chief financial officer now directly owns 13,648 shares in the company, valued at $60,733.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 22,000 shares of company stock worth $103,820 in the last 90 days. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TPI Composites

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp acquired a new stake in TPI Composites during the 1st quarter valued at approximately $35,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in TPI Composites during the 1st quarter worth approximately $41,000. Point72 Hong Kong Ltd lifted its holdings in TPI Composites by 1,561.5% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,456 shares of the industrial products company’s stock worth $43,000 after buying an additional 3,248 shares during the last quarter. AXS Investments LLC bought a new position in TPI Composites during the 1st quarter worth approximately $51,000. Finally, Compass Wealth Management LLC bought a new position in TPI Composites during the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 93.45% of the company’s stock.

About TPI Composites

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 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.