TPI Composites (NASDAQ:TPIC) Given New $3.75 Price Target at Roth Mkm

TPI Composites (NASDAQ:TPIC) had its target price raised by equities research analysts at Roth Mkm from $3.30 to $3.75 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Roth Mkm’s price objective would suggest a potential downside of 6.95% from the company’s previous close.

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $3.00 price objective (down from $4.00) on shares of TPI Composites in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.53.

TPI Composites Price Performance

Shares of NASDAQ TPIC opened at $4.03 on Monday. The stock has a market capitalization of $191.30 million, a PE ratio of -0.88 and a beta of 1.96. TPI Composites has a fifty-two week low of $1.63 and a fifty-two week high of $12.24. The business has a fifty day moving average price of $2.89 and a two-hundred day moving average price of $2.85.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.91) by $1.18. The firm had revenue of $296.99 million during the quarter, compared to the consensus estimate of $340.91 million. During the same quarter in the prior year, the business posted ($0.73) earnings per share. On average, equities analysts expect that TPI Composites will post -1.6 EPS for the current year.

Institutional Trading of TPI Composites

Large investors have recently made changes to their positions in the company. Graham Capital Management L.P. boosted its holdings in TPI Composites by 359.4% in the third quarter. Graham Capital Management L.P. now owns 124,474 shares of the industrial products company’s stock worth $330,000 after acquiring an additional 97,377 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of TPI Composites by 115.9% during the fourth quarter. SG Americas Securities LLC now owns 75,939 shares of the industrial products company’s stock valued at $314,000 after acquiring an additional 40,758 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in shares of TPI Composites during the third quarter worth approximately $680,000. Rock Point Advisors LLC lifted its holdings in shares of TPI Composites by 98.9% in the 3rd quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after purchasing an additional 314,715 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in TPI Composites by 342.5% in the 3rd quarter. Quadrature Capital Ltd now owns 63,114 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 48,852 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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) 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.