TPI Composites, Inc. (NASDAQ:TPIC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.09.

A number of research firms have recently commented on TPIC. Roth Mkm increased their price target on shares of TPI Composites from $3.30 to $3.75 and gave the company a “neutral” rating in a report on Monday, May 6th. Bank of America increased their target price on TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Piper Sandler increased their price objective on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their target price on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th.

Hedge Funds Weigh In On TPI Composites

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in TPI Composites in the 2nd quarter worth about $44,000. Perigon Wealth Management LLC bought a new stake in shares of TPI Composites during the 1st quarter worth approximately $36,000. Fiduciary Trust Co bought a new stake in shares of TPI Composites during the 4th quarter worth approximately $54,000. State Board of Administration of Florida Retirement System boosted its holdings in TPI Composites by 55.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 5,930 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new position in TPI Composites in the 4th quarter valued at $90,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Stock Performance

Shares of NASDAQ TPIC opened at $3.92 on Monday. The company has a 50 day simple moving average of $4.14 and a two-hundred day simple moving average of $3.66. TPI Composites has a fifty-two week low of $1.63 and a fifty-two week high of $5.75. The company has a market capitalization of $185.18 million, a price-to-earnings ratio of -0.85 and a beta of 1.95.

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.