TPI Composites, Inc. (NASDAQ:TPIC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $5.09.

TPIC has been the subject of several research reports. Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Piper Sandler raised their price target on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Bank of America lifted their target price on TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th.

TPI Composites Trading Up 4.8 %

NASDAQ:TPIC opened at $4.58 on Friday. The stock has a market capitalization of $217.78 million, a P/E ratio of -1.00 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 firm has a 50 day moving average of $4.09 and a 200-day moving average of $3.80.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TPIC. Price T Rowe Associates Inc. MD grew its stake in shares of TPI Composites by 12.2% during 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 during the period. State Board of Administration of Florida Retirement System grew its position in shares of TPI Composites by 55.2% during the 1st 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 buying an additional 5,930 shares during the period. Green Alpha Advisors LLC increased its stake in shares of TPI Composites by 2.9% in the 1st quarter. Green Alpha Advisors LLC now owns 227,627 shares of the industrial products company’s stock valued at $662,000 after acquiring an additional 6,351 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of TPI Composites by 8.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company’s stock valued at $461,000 after acquiring an additional 8,550 shares during the period. Finally, Monaco Asset Management SAM boosted its stake in TPI Composites by 20.0% during the 2nd quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 10,000 shares during 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.