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

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received a consensus rating of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $4.58.

Several research firms recently commented on TPIC. Bank of America cut 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 report on Thursday, November 7th. Morgan Stanley restated an “underweight” rating and issued a $2.00 price target (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Finally, Jefferies Financial Group assumed coverage on TPI Composites in a research note on Thursday, October 17th. They issued a “hold” rating and a $5.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Erste Asset Management GmbH acquired a new stake in shares of TPI Composites in the 3rd quarter valued at approximately $7,854,000. Barclays PLC lifted its stake in TPI Composites by 281.4% in the third quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock valued at $275,000 after acquiring an additional 44,666 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of TPI Composites in the 2nd quarter valued at about $1,421,000. BNP Paribas Financial Markets increased its stake in shares of TPI Composites by 391.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 51,502 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of TPI Composites in the 3rd quarter valued at about $155,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

TPI Composites Trading Up 7.5 %

NASDAQ:TPIC opened at $1.57 on Thursday. TPI Composites has a 1 year low of $1.10 and a 1 year high of $5.75. The stock has a 50-day moving average price of $1.75 and a two-hundred day moving average price of $3.22. The stock has a market cap of $74.67 million, a price-to-earnings ratio of -0.42 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, November 7th. The industrial products company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.47). The company had revenue of $380.76 million during the quarter, compared to analyst estimates of $346.50 million. During the same period last year, the firm posted ($1.71) earnings per share. Sell-side analysts forecast that TPI Composites will post -3.8 earnings per share for the current year.

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.