Brokers Issue Forecasts for TPI Composites, Inc.’s FY2023 Earnings (NASDAQ:TPIC)

TPI Composites, Inc. (NASDAQ:TPIC) – Analysts at Seaport Res Ptn decreased their FY2023 earnings per share estimates for TPI Composites in a report issued on Wednesday, November 8th. Seaport Res Ptn analyst T. Curran now forecasts that the industrial products company will earn ($4.88) per share for the year, down from their previous forecast of ($2.92). The consensus estimate for TPI Composites’ current full-year earnings is ($5.06) per share. Seaport Res Ptn also issued estimates for TPI Composites’ Q4 2023 earnings at ($0.55) EPS, Q1 2024 earnings at ($0.27) EPS, Q2 2024 earnings at ($0.19) EPS, Q4 2024 earnings at $0.17 EPS and FY2024 earnings at ($0.23) EPS.

A number of other brokerages have also recently issued reports on TPIC. Johnson Rice cut TPI Composites from an “accumulate” rating to a “hold” rating and set a $10.00 target price on the stock. in a report on Thursday, July 27th. JPMorgan Chase & Co. decreased their price objective on shares of TPI Composites from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. StockNews.com assumed coverage on shares of TPI Composites in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Roth Mkm lowered shares of 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 report on Thursday, July 27th. Finally, Roth Capital cut shares of TPI Composites from a “buy” rating to a “neutral” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.08.

TPI Composites Stock Up 2.4 %

Shares of TPIC opened at $2.12 on Monday. The stock’s fifty day simple moving average is $2.77 and its 200-day simple moving average is $6.84. The firm has a market capitalization of $90.25 million, a PE ratio of -0.36 and a beta of 1.94. TPI Composites has a 12-month low of $1.63 and a 12-month high of $14.80.

Insiders Place Their Bets

In other news, CEO William E. Siwek bought 10,000 shares of the stock in a transaction on Friday, August 18th. The stock was purchased at an average price of $4.90 per share, for a total transaction of $49,000.00. Following the acquisition, the chief executive officer now owns 193,007 shares in the company, valued at $945,734.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 22,000 shares of company stock worth $103,820. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On TPI Composites

A number of large investors have recently added to or reduced their stakes in TPIC. Vaughan David Investments LLC IL bought a new position in TPI Composites during the 3rd quarter worth about $31,000. Van ECK Associates Corp bought a new position in shares of TPI Composites in the 1st quarter valued at about $35,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of TPI Composites in the 1st quarter valued at about $41,000. Point72 Hong Kong Ltd grew its holdings in shares of TPI Composites by 1,561.5% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,456 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 3,248 shares in the last quarter. Finally, AXS Investments LLC bought a new position in shares of TPI Composites in the 1st quarter valued at about $51,000. Institutional investors own 93.45% of the company’s stock.

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). 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.