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

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received an average recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.19.

Several analysts have recently issued reports on the stock. Roth Mkm dropped their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. StockNews.com upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Jefferies Financial Group lowered shares of TPI Composites from a “hold” rating to an “underperform” rating and dropped their target price for the company from $2.30 to $0.50 in a research report on Tuesday. Finally, UBS Group dropped their target price on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th.

TPI Composites Stock Performance

TPIC opened at $1.04 on Friday. TPI Composites has a fifty-two week low of $0.96 and a fifty-two week high of $5.75. The company has a fifty day moving average of $1.35 and a two-hundred day moving average of $2.43. The stock 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 released its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share 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 the consensus estimate of $364.83 million. On average, equities research analysts forecast that TPI Composites will post -0.9 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On TPI Composites

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP boosted its holdings in TPI Composites by 24.9% in the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 5,653 shares during the last quarter. Barclays PLC boosted its holdings in TPI Composites by 14.9% in the 4th quarter. Barclays PLC now owns 69,542 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 9,004 shares during the last quarter. Peoples Bank KS boosted its holdings in 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 purchasing an additional 10,000 shares during the last quarter. Cedar Point Capital Partners LLC boosted its holdings in 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 purchasing an additional 10,000 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in TPI Composites by 1.0% in the 4th quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock valued at $2,085,000 after purchasing an additional 10,611 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.