Brokerages Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $5.09

TPI Composites, Inc. (NASDAQ:TPIC) has earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $5.08.

A number of brokerages recently weighed in on TPIC. Bank of America increased their price target on shares of TPI Composites from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Piper Sandler boosted their price target on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Jefferies Financial Group began coverage on TPI Composites in a research note on Thursday. They set a “hold” rating and a $5.00 price target for the company. Finally, Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th.

TPI Composites Stock Performance

TPI Composites stock opened at $4.23 on Tuesday. The company has a market capitalization of $199.83 million, a P/E ratio of -0.92 and a beta of 1.91. TPI Composites has a fifty-two week low of $1.63 and a fifty-two week high of $5.75. The stock has a 50-day simple moving average of $4.19 and a 200-day simple moving average of $4.03.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.54). The business had revenue of $309.82 million during the quarter, compared to the consensus estimate of $313.76 million. As a group, analysts forecast that TPI Composites will post -2.85 earnings per share for the current year.

Institutional Investors Weigh In On TPI Composites

Several institutional investors and hedge funds have recently made changes to their positions in TPIC. Susquehanna Fundamental Investments LLC purchased a new position in shares of TPI Composites during the 1st quarter worth $312,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of TPI Composites during the 1st quarter worth about $77,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of TPI Composites by 12.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 3,737 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of TPI Composites by 69.0% in the 1st quarter. Tidal Investments LLC now owns 140,010 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 57,156 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of TPI Composites in the 1st quarter worth about $147,000. 75.24% of the stock is currently owned by hedge funds and other 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.