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

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

Several equities research analysts have issued reports on TPIC shares. Roth Mkm dropped their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research report on Friday, February 21st. Wall Street Zen upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Jefferies Financial Group lowered shares of TPI Composites from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $2.30 to $0.50 in a report on Tuesday, March 18th. Finally, UBS Group lowered their price objective on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a report on Tuesday, February 25th.

TPI Composites Price Performance

Shares of TPI Composites stock opened at $1.36 on Wednesday. TPI Composites has a 1 year low of $0.64 and a 1 year high of $5.75. The firm has a market cap of $66.16 million, a PE ratio of -0.27 and a beta of 2.05. The company has a 50 day simple moving average of $0.91 and a two-hundred day simple moving average of $1.34.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Monday, May 12th. The industrial products company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.51). The business had revenue of $332.45 million for the quarter, compared to analyst estimates of $310.50 million. As a group, research analysts anticipate that TPI Composites will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On TPI Composites

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPIC. Brightline Capital Management LLC grew its holdings in TPI Composites by 2.2% in the 1st quarter. Brightline Capital Management LLC now owns 1,737,000 shares of the industrial products company’s stock worth $1,400,000 after acquiring an additional 37,000 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of TPI Composites during the first quarter valued at about $1,167,000. Bank of America Corp DE raised its stake in shares of TPI Composites by 1.0% during the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock valued at $2,085,000 after acquiring an additional 10,611 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of TPI Composites by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock valued at $1,931,000 after acquiring an additional 16,034 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its stake in shares of TPI Composites by 8.2% during the fourth quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock valued at $548,000 after acquiring an additional 22,005 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

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.