Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Target Price at $5.09

TPI Composites, Inc. (NASDAQ:TPIC) has received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.08.

A number of analysts have recently issued reports on TPIC shares. Bank of America boosted their price objective on TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Evercore ISI raised TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Jefferies Financial Group started coverage on TPI Composites in a research note on Thursday. They issued a “hold” rating and a $5.00 price target on the stock. Finally, Piper Sandler boosted their price target on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research note on Monday, August 12th.

TPI Composites Trading Up 1.1 %

TPIC opened at $4.28 on Tuesday. The stock has a market cap of $201.96 million, a PE ratio of -0.93 and a beta of 1.91. TPI Composites has a 1 year low of $1.63 and a 1 year high of $5.75. The stock’s 50 day simple moving average is $4.19 and its 200-day simple moving average is $4.05.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.54). The firm had revenue of $309.82 million during the quarter, compared to analyst estimates of $313.76 million. Equities analysts forecast that TPI Composites will post -2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TPI Composites

A number of institutional investors and hedge funds have recently bought and sold shares of TPIC. Perigon Wealth Management LLC acquired a new position in TPI Composites in the first quarter worth $36,000. SG Americas Securities LLC acquired a new position in TPI Composites in the second quarter worth $44,000. State Board of Administration of Florida Retirement System boosted its stake in TPI Composites by 55.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 5,930 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in TPI Composites in the first quarter worth $77,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in TPI Composites by 12.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 3,737 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.