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

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have earned an average recommendation of “Reduce” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $1.7333.

Several equities research analysts recently commented on TPIC shares. UBS Group cut their price target on shares of TPI Composites from $1.60 to $1.40 and set a “neutral” rating for the company in a report on Thursday, May 29th. TD Cowen reissued a “hold” rating and issued a $1.00 price target (down previously from $2.00) on shares of TPI Composites in a report on Tuesday, July 8th.

Institutional Investors Weigh In On TPI Composites

A number of large investors have recently modified their holdings of TPIC. Wells Fargo & Company MN grew its holdings in shares of TPI Composites by 104.1% during the fourth quarter. Wells Fargo & Company MN now owns 28,035 shares of the industrial products company’s stock worth $53,000 after buying an additional 718,573 shares in the last quarter. Barclays PLC grew its holdings in shares of TPI Composites by 14.9% during the fourth quarter. Barclays PLC now owns 69,542 shares of the industrial products company’s stock worth $131,000 after buying an additional 9,004 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of TPI Composites by 228.3% during the fourth quarter. Jane Street Group LLC now owns 222,878 shares of the industrial products company’s stock worth $421,000 after buying an additional 154,994 shares in the last quarter. Bank of America Corp DE grew its holdings 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 worth $2,085,000 after buying an additional 10,611 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of TPI Composites by 39.0% during the fourth quarter. Deutsche Bank AG now owns 179,648 shares of the industrial products company’s stock worth $340,000 after buying an additional 50,422 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Stock Performance

Shares of NASDAQ TPIC opened at $0.12 on Friday. The firm has a market cap of $5.90 million, a PE ratio of -0.03 and a beta of 1.98. The firm has a fifty day moving average of $0.57 and a 200 day moving average of $0.87. TPI Composites has a one year low of $0.11 and a one year high of $5.15.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Monday, August 11th. The industrial products company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.87). The company had revenue of $276.24 million for the quarter, compared to the consensus estimate of $365.39 million. On average, equities analysts predict that TPI Composites will post -0.9 EPS for the current fiscal 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.