Roth Mkm Issues Pessimistic Forecast for TPI Composites (NASDAQ:TPIC) Stock Price

TPI Composites (NASDAQ:TPIC) had its price target reduced by equities researchers at Roth Mkm from $2.75 to $1.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Roth Mkm’s price target suggests a potential upside of 3.09% from the stock’s current price.

Other research analysts also recently issued reports about the company. Morgan Stanley reiterated an “underweight” rating and set a $2.00 target price (down from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Bank of America lowered their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.20.

TPI Composites Price Performance

Shares of TPIC opened at $1.46 on Friday. TPI Composites has a 1 year low of $1.10 and a 1 year high of $5.75. The company has a 50 day simple moving average of $1.58 and a two-hundred day simple moving average of $2.79. The firm has a market cap of $69.20 million, a P/E ratio of -0.29 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $364.83 million. On average, sell-side analysts anticipate that TPI Composites will post -0.9 earnings per share for the current year.

Institutional Trading of TPI Composites

Institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC bought a new stake in TPI Composites in the fourth quarter worth $25,000. Two Sigma Securities LLC bought a new stake in TPI Composites in the fourth quarter worth $31,000. Dark Forest Capital Management LP bought a new stake in TPI Composites in the fourth quarter worth $33,000. Cedar Point Capital Partners LLC lifted its position in TPI Composites by 100.0% in the fourth quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock worth $38,000 after buying an additional 10,000 shares during the last quarter. Finally, Peoples Bank KS lifted its position in shares of TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 10,000 shares during the last quarter. 75.24% of the stock is currently 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.