TPI Composites’ (TPIC) “Underweight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of TPI Composites (NASDAQ:TPIC) in a report published on Friday morning, Marketbeat reports. They currently have a $2.00 target price on the industrial products company’s stock, down from their previous target price of $4.00.

A number of other equities research analysts have also commented on the company. Bank of America reduced their price target on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Jefferies Financial Group began coverage on TPI Composites in a research report on Thursday, October 17th. They set a “hold” rating and a $5.00 target price on the stock. Finally, Piper Sandler upped their target price on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.58.

TPI Composites Trading Down 5.1 %

NASDAQ TPIC opened at $2.06 on Friday. The business’s 50-day moving average price is $3.85 and its two-hundred day moving average price is $4.11. TPI Composites has a 12 month low of $1.90 and a 12 month high of $5.75. The firm has a market capitalization of $97.98 million, a PE ratio of -0.58 and a beta of 1.93.

Institutional Investors Weigh In On TPI Composites

Several institutional investors and hedge funds have recently made changes to their positions in TPIC. Mirae Asset Global Investments Co. Ltd. bought a new position in TPI Composites in the first quarter worth approximately $77,000. Price T Rowe Associates Inc. MD boosted its holdings in TPI Composites by 12.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 3,737 shares in the last quarter. Tidal Investments LLC boosted its holdings in TPI Composites by 69.0% in the first quarter. Tidal Investments LLC now owns 140,010 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 57,156 shares in the last quarter. Swedbank AB bought a new position in TPI Composites in the first quarter worth approximately $248,000. Finally, Vanguard Group Inc. boosted its holdings in TPI Composites by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock worth $6,654,000 after acquiring an additional 72,056 shares in the last quarter. Institutional investors own 75.24% 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) 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.