TPI Composites (NASDAQ:TPIC) Lowered to “Underperform” Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of TPI Composites (NASDAQ:TPIC) from a hold rating to an underperform rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has $0.50 price target on the industrial products company’s stock, down from their prior price target of $2.30.

Several other brokerages also recently issued reports on TPIC. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. StockNews.com upgraded TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. UBS Group reduced their price objective on TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Roth Mkm reduced their price objective on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.19.

TPI Composites Stock Down 13.3 %

Shares of NASDAQ:TPIC opened at $1.04 on Tuesday. TPI Composites has a twelve month low of $0.96 and a twelve month high of $5.75. The stock’s 50 day moving average is $1.35 and its 200-day moving average is $2.43. The firm has a market capitalization of $49.51 million, a price-to-earnings ratio of -0.21 and a beta of 2.07.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results 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 company had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. Equities research analysts anticipate that TPI Composites will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at TPI Composites

In related news, major shareholder Construction Taahhut A.S. Dere acquired 80,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average price of $1.52 per share, with a total value of $121,600.00. Following the acquisition, the insider now owns 4,397,232 shares of the company’s stock, valued at approximately $6,683,792.64. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders bought 205,000 shares of company stock worth $307,050. 3.70% of the stock is owned by company insiders.

Institutional Trading of TPI Composites

A number of institutional investors have recently added to or reduced their stakes in TPIC. Cerity Partners LLC purchased a new stake in TPI Composites during the 4th quarter worth about $25,000. Two Sigma Securities LLC purchased a new stake in TPI Composites during the 4th quarter worth about $31,000. Dark Forest Capital Management LP purchased a new stake in shares of TPI Composites in the 4th quarter valued at about $33,000. Cedar Point Capital Partners LLC raised its holdings in shares of TPI Composites by 100.0% in the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Peoples Bank KS raised its holdings in shares of TPI Composites by 100.0% in the 4th quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 10,000 shares in the last quarter. 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.