TPI Composites, Inc. (NASDAQ:TPIC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $4.74.

TPIC has been the topic of a number of research reports. Evercore ISI raised TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Piper Sandler upped their price target on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a report on Monday, August 12th. Bank of America reduced their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Jefferies Financial Group initiated coverage on shares of TPI Composites in a report on Thursday, October 17th. They set a “hold” rating and a $5.00 target price for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of TPI Composites during the second quarter valued at approximately $1,421,000. King Luther Capital Management Corp purchased a new position in TPI Composites during the 2nd quarter worth approximately $1,365,000. LRI Investments LLC acquired a new stake in TPI Composites during the 1st quarter valued at $863,000. DRW Securities LLC purchased a new stake in shares of TPI Composites in the second quarter valued at $718,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of TPI Composites in the first quarter worth $312,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

TPI Composites Trading Up 0.7 %

TPI Composites stock opened at $2.82 on Friday. The company’s 50-day moving average price is $4.01 and its two-hundred day moving average price is $4.11. The stock has a market cap of $133.85 million, a price-to-earnings ratio of -0.61 and a beta of 1.93. TPI Composites has a 52 week low of $1.90 and a 52 week high of $5.75.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.54). The company had revenue of $309.82 million for the quarter, compared to analyst estimates of $313.76 million. Research analysts expect that TPI Composites will post -2.88 earnings per share for the current fiscal year.

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.