TPI Composites, Inc. (NASDAQ:TPIC) Receives Consensus Recommendation of “Hold” from Analysts

TPI Composites, Inc. (NASDAQ:TPIC) has earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $3.83.

Several brokerages have commented on TPIC. UBS Group decreased their target price on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Morgan Stanley restated an “underweight” rating and set a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. Finally, Roth Mkm reduced their target price on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st.

TPI Composites Stock Down 1.5 %

TPIC stock opened at $0.97 on Friday. The firm’s 50-day simple moving average is $1.40 and its 200 day simple moving average is $2.52. The stock has a market cap of $46.20 million, a PE ratio of -0.19 and a beta of 2.07. TPI Composites has a fifty-two week low of $0.96 and a fifty-two week high of $5.75.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Equities analysts forecast that TPI Composites will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere acquired 49,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average price of $1.59 per share, for a total transaction of $77,910.00. Following the completion of the acquisition, the insider now owns 4,229,232 shares in the company, valued at $6,724,478.88. This trade represents a 1.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 205,000 shares of company stock valued at $307,050. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TPI Composites

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in TPI Composites during the third quarter worth about $65,000. Dynamic Technology Lab Private Ltd bought a new position in shares of TPI Composites during the 3rd quarter valued at about $155,000. Quantbot Technologies LP lifted its holdings in shares of TPI Composites by 24.9% during the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 5,653 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of TPI Composites by 391.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 51,502 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in TPI Composites during the 3rd quarter worth approximately $88,000. 75.24% of the stock is owned by institutional investors.

About TPI Composites

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.