TPI Composites, Inc. (NASDAQ:TPIC – Get Free Report) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.22.
Separately, Piper Sandler reissued a “neutral” rating and set a $3.00 price target (down from $4.00) on shares of TPI Composites in a research note on Friday, February 23rd.
View Our Latest Analysis on TPI Composites
TPI Composites Stock Down 4.5 %
TPI Composites (NASDAQ:TPIC – Get Free Report) last announced its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $1.18. The company had revenue of $296.99 million during the quarter, compared to the consensus estimate of $340.91 million. During the same period in the prior year, the firm posted ($0.73) earnings per share. On average, research analysts expect that TPI Composites will post -1.47 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in TPIC. Peoples Bank KS boosted its holdings in TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 10,000 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 5,000 shares during the last quarter. Cedar Point Capital Partners LLC bought a new stake in TPI Composites during the fourth quarter worth $41,000. Citizens Financial Group Inc. RI bought a new stake in TPI Composites during the third quarter worth $28,000. Vaughan David Investments LLC IL bought a new position in shares of TPI Composites in the third quarter valued at about $31,000. Finally, First Affirmative Financial Network bought a new position in shares of TPI Composites in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 75.24% 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) 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.
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