TPI Composites’ (TPIC) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of TPI Composites (NASDAQ:TPIC) in a research report sent to investors on Thursday, MarketBeat Ratings reports.

Other analysts have also issued research reports about the company. Bank of America cut 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. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Finally, Jefferies Financial Group initiated coverage on TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.58.

TPI Composites Trading Down 8.9 %

Shares of TPIC opened at $1.23 on Thursday. The firm has a 50-day simple moving average of $2.87 and a two-hundred day simple moving average of $3.79. TPI Composites has a 1-year low of $1.21 and a 1-year high of $5.75.

Institutional Trading of TPI Composites

Hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH purchased a new stake in TPI Composites during the 3rd quarter worth about $7,854,000. Price T Rowe Associates Inc. MD increased 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 buying an additional 3,737 shares during the period. Vanguard Group Inc. increased its stake in shares of TPI Composites by 3.3% during the first quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock worth $6,654,000 after buying an additional 72,056 shares during the period. DRW Securities LLC acquired a new stake in TPI Composites in the second quarter valued at approximately $718,000. Finally, Sanctuary Advisors LLC purchased a new position in TPI Composites in the second quarter worth approximately $1,421,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.