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

TPI Composites, Inc. (NASDAQ:TPIC) has been given an average rating of “Hold” by the seven research firms that are presently covering the company, MarketBeat Ratings reports. One equities 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 given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $4.58.

TPIC has been the topic of several recent research reports. Bank of America lowered their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley restated an “underweight” rating and issued a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Finally, Jefferies Financial Group assumed coverage on TPI Composites in a report on Thursday, October 17th. They issued a “hold” rating and a $5.00 target price on the stock.

TPI Composites Price Performance

Shares of TPIC stock opened at $1.95 on Friday. The stock has a 50-day simple moving average of $2.30 and a 200 day simple moving average of $3.55. The stock has a market capitalization of $92.75 million, a P/E ratio of -0.52 and a beta of 1.82. TPI Composites has a fifty-two week low of $1.10 and a fifty-two week high of $5.75.

Institutional Trading of TPI Composites

A number of hedge funds have recently modified their holdings of TPIC. Erste Asset Management GmbH acquired a new position in TPI Composites during the third quarter valued at $7,854,000. Sanctuary Advisors LLC acquired a new position in shares of TPI Composites in the 2nd quarter valued at about $1,421,000. King Luther Capital Management Corp purchased a new stake in shares of TPI Composites in the second quarter worth approximately $1,365,000. Brightline Capital Management LLC boosted its holdings in shares of TPI Composites by 14.3% during the third quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock worth $7,544,000 after purchasing an additional 208,000 shares during the period. Finally, DRW Securities LLC purchased a new position in TPI Composites during the second quarter valued at approximately $718,000. Hedge funds and other institutional investors 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.