TPI Composites (NASDAQ:TPIC) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of TPI Composites (NASDAQ:TPIC) from a sell rating to a hold rating in a report released on Monday morning.

TPIC has been the subject of several other research reports. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Bank of America dropped their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Roth Mkm dropped their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research report on Friday. Finally, Morgan Stanley reiterated an “underweight” rating and set a $2.00 target price (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TPI Composites has a consensus rating of “Hold” and an average target price of $4.20.

TPI Composites Stock Performance

NASDAQ:TPIC opened at $1.32 on Monday. The stock’s fifty day moving average price is $1.58 and its two-hundred day moving average price is $2.78. TPI Composites has a 52-week low of $1.10 and a 52-week high of $5.75. The company has a market cap of $62.84 million, a price-to-earnings ratio of -0.26 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The business had revenue of $346.51 million during the quarter, compared to analysts’ expectations of $364.83 million. On average, equities analysts predict that TPI Composites will post -0.9 EPS for the current fiscal year.

Institutional Trading of TPI Composites

A number of large investors have recently made changes to their positions in TPIC. Erste Asset Management GmbH bought a new stake in shares of TPI Composites in the 3rd quarter valued at $7,854,000. Wells Fargo & Company MN increased its position in shares of TPI Composites by 104.1% in the 4th quarter. Wells Fargo & Company MN now owns 28,035 shares of the industrial products company’s stock valued at $53,000 after buying an additional 718,573 shares in the last quarter. Brightline Capital Management LLC increased its position in shares of TPI Composites by 14.3% in the 3rd quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock valued at $7,544,000 after buying an additional 208,000 shares in the last quarter. Jane Street Group LLC increased its position in shares of TPI Composites by 228.3% in the 4th quarter. Jane Street Group LLC now owns 222,878 shares of the industrial products company’s stock valued at $421,000 after buying an additional 154,994 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of TPI Composites by 433.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock valued at $663,000 after buying an additional 118,365 shares in the last quarter. 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.