TPI Composites, Inc. (NASDAQ:TPIC) Given Consensus Rating of “Hold” by Brokerages

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $3.19.

A number of equities analysts recently weighed in on TPIC shares. UBS Group lowered their target price on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group cut shares of TPI Composites from a “hold” rating to an “underperform” rating and dropped their target price for the company from $2.30 to $0.50 in a report on Tuesday, March 18th. Roth Mkm reduced their price target on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, StockNews.com upgraded TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th.

Insider Transactions at TPI Composites

In related news, major shareholder Construction Taahhut A.S. Dere purchased 80,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was acquired at an average cost of $1.52 per share, for a total transaction of $121,600.00. Following the completion of the purchase, the insider now owns 4,397,232 shares in the company, valued at approximately $6,683,792.64. This represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 205,000 shares of company stock valued at $307,050. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TPI Composites

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC acquired a new stake in TPI Composites during the fourth quarter worth about $25,000. Two Sigma Securities LLC bought a new position in TPI Composites in the fourth quarter valued at approximately $31,000. Dark Forest Capital Management LP acquired a new position in TPI Composites during the fourth quarter valued at approximately $33,000. Peoples Bank KS lifted its stake in TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Cedar Point Capital Partners LLC boosted its holdings in shares of TPI Composites by 100.0% in the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 10,000 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

TPI Composites Stock Up 4.1 %

NASDAQ TPIC opened at $0.97 on Friday. The firm’s 50 day moving average is $0.90 and its 200-day moving average is $1.64. The company has a market capitalization of $46.39 million, a PE ratio of -0.19 and a beta of 2.06. TPI Composites has a 12-month low of $0.64 and a 12-month high of $5.75.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million for the quarter, compared to the consensus estimate of $364.83 million. As a group, sell-side analysts expect that TPI Composites will post -0.9 EPS for the current year.

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.