TPI Composites, Inc. (NASDAQ:TPIC) Receives $4.58 Average PT from Analysts

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued 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 objective among analysts that have issued ratings on the stock in the last year is $4.58.

A number of equities research analysts have commented on TPIC shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Jefferies Financial Group started coverage on TPI Composites in a report on Thursday, October 17th. They issued a “hold” rating and a $5.00 price objective for the company. Morgan Stanley reiterated an “underweight” rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Finally, Bank of America dropped their target price 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.

TPI Composites Price Performance

Shares of NASDAQ:TPIC opened at $1.56 on Thursday. TPI Composites has a 1 year low of $1.10 and a 1 year high of $5.75. The stock’s fifty day moving average price is $1.70 and its 200-day moving average price is $3.14. The company has a market cap of $74.20 million, a P/E ratio of -0.42 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, November 7th. The industrial products company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.47). The business had revenue of $380.76 million for the quarter, compared to analyst estimates of $346.50 million. During the same quarter in the prior year, the company earned ($1.71) EPS. On average, sell-side analysts anticipate that TPI Composites will post -3.8 earnings per share for the current year.

Hedge Funds Weigh In On TPI Composites

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of TPI Composites by 30.6% during the 2nd quarter. Rhumbline Advisers now owns 76,989 shares of the industrial products company’s stock valued at $307,000 after buying an additional 18,045 shares in the last quarter. Renaissance Technologies LLC raised its stake in TPI Composites by 251.1% during the 2nd quarter. Renaissance Technologies LLC now owns 58,686 shares of the industrial products company’s stock worth $234,000 after acquiring an additional 41,970 shares during the period. Interval Partners LP purchased a new position in TPI Composites during the second quarter valued at approximately $235,000. Marshall Wace LLP boosted its position in shares of TPI Composites by 22.5% in the second quarter. Marshall Wace LLP now owns 83,638 shares of the industrial products company’s stock worth $334,000 after purchasing an additional 15,369 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of TPI Composites by 8.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company’s stock worth $461,000 after purchasing an additional 8,550 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other 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.