TPI Composites (NASDAQ:TPIC) Price Target Lowered to $1.50 at Roth Mkm

TPI Composites (NASDAQ:TPIC) had its price objective reduced by Roth Mkm from $2.75 to $1.50 in a research report report published on Friday morning,Benzinga reports. Roth Mkm currently has a neutral rating on the industrial products company’s stock.

Several other research firms also recently commented on TPIC. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. 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, Bank of America lowered their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.20.

TPI Composites Stock Performance

NASDAQ TPIC opened at $1.46 on Friday. TPI Composites has a 12 month low of $1.10 and a 12 month high of $5.75. The company’s 50-day moving average price is $1.57 and its 200-day moving average price is $2.80.

TPI Composites (NASDAQ:TPIC) last issued its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) 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. As a group, equities research analysts expect that TPI Composites will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TPIC. Quantinno Capital Management LP purchased a new position in TPI Composites in the third quarter valued at about $57,000. Cerity Partners LLC bought a new stake in shares of TPI Composites in the 4th quarter valued at about $25,000. Intech Investment Management LLC bought a new stake in shares of TPI Composites in the 3rd quarter valued at about $65,000. Two Sigma Securities LLC purchased a new position in shares of TPI Composites in the 4th quarter worth approximately $31,000. Finally, Dark Forest Capital Management LP bought a new position in shares of TPI Composites during the 4th quarter worth approximately $33,000. 75.24% of the stock is owned by institutional investors.

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.