Jefferies Financial Group Begins Coverage on TPI Composites (NASDAQ:TPIC)

Jefferies Financial Group began coverage on shares of TPI Composites (NASDAQ:TPIC) in a research report report published on Thursday, Marketbeat reports. The firm issued a hold rating and a $5.00 price target on the industrial products company’s stock.

Other research analysts have also issued reports about the company. Piper Sandler upped their target price on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. Evercore ISI raised TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Bank of America lifted their target price on TPI Composites from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.08.

TPI Composites Stock Performance

TPIC stock opened at $4.28 on Thursday. The firm has a 50-day simple moving average of $4.19 and a two-hundred day simple moving average of $4.05. TPI Composites has a one year low of $1.63 and a one year high of $5.75. The firm has a market cap of $201.96 million, a price-to-earnings ratio of -0.93 and a beta of 1.91.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The business had revenue of $309.82 million for the quarter, compared to the consensus estimate of $313.76 million. As a group, equities analysts predict that TPI Composites will post -2.85 earnings per share for the current fiscal year.

Institutional Trading of TPI Composites

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perigon Wealth Management LLC acquired a new stake in shares of TPI Composites during the 1st quarter valued at about $36,000. SG Americas Securities LLC purchased a new stake in shares of TPI Composites in the second quarter valued at approximately $44,000. State Board of Administration of Florida Retirement System grew its holdings in shares of TPI Composites by 55.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock worth $49,000 after buying an additional 5,930 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of TPI Composites in the first quarter valued at about $77,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of TPI Composites by 12.2% in 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 in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.