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

TPI Composites, Inc. (NASDAQ:TPIC) has been given an average recommendation of “Hold” by the nine research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $2.01.

TPIC has been the subject of a number of research analyst reports. TD Cowen restated a “hold” rating and set a $1.00 price objective (down previously from $2.00) on shares of TPI Composites in a report on Tuesday, July 8th. UBS Group reduced their price target on TPI Composites from $1.60 to $1.40 and set a “neutral” rating for the company in a research note on Thursday, May 29th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TPIC. Bank of America Corp DE grew its stake in 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 worth $2,085,000 after buying an additional 10,611 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of TPI Composites by 469.2% during the 4th quarter. Squarepoint Ops LLC now owns 59,763 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 49,263 shares in the last quarter. Jane Street Group LLC increased its stake in TPI Composites by 228.3% in the fourth quarter. Jane Street Group LLC now owns 222,878 shares of the industrial products company’s stock valued at $421,000 after acquiring an additional 154,994 shares during the last quarter. Geode Capital Management LLC increased its stake in TPI Composites by 1.6% in 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, Prudential Financial Inc. acquired a new position in TPI Composites during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

TPI Composites Trading Up 5.4%

TPIC opened at $0.78 on Thursday. The stock’s fifty day simple moving average is $1.09 and its 200 day simple moving average is $1.15. TPI Composites has a 1-year low of $0.64 and a 1-year high of $5.26. The stock has a market cap of $37.95 million, a PE ratio of -0.16 and a beta of 2.00.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Monday, May 12th. The industrial products company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.51). The firm had revenue of $332.45 million for the quarter, compared to the consensus estimate of $310.50 million. Equities analysts forecast that TPI Composites will post -0.9 earnings per share 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.