TPI Composites (NASDAQ:TPIC) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of TPI Composites (NASDAQ:TPIC) in a research note published on Thursday morning, MarketBeat reports. The firm issued a hold rating and a $5.00 target price on the industrial products company’s stock.

Several other research firms have also issued reports on TPIC. 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. Piper Sandler upped their target price on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research note on Monday, August 12th. Bank of America increased their target price on shares of TPI Composites from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.08.

TPI Composites Price Performance

Shares of NASDAQ:TPIC opened at $4.28 on Thursday. The stock has a market cap of $203.51 million, a price-to-earnings ratio of -0.93 and a beta of 1.91. The company has a 50 day moving average of $4.19 and a 200-day moving average of $4.06. TPI Composites has a one year low of $1.63 and a one year high of $5.75.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, August 8th. The industrial products company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.54). The business had revenue of $309.82 million for the quarter, compared to analysts’ expectations of $313.76 million. Equities research analysts anticipate that TPI Composites will post -2.85 earnings per share for the current year.

Institutional Investors Weigh In On TPI Composites

Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake 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 period. State Board of Administration of Florida Retirement System grew its holdings in shares of TPI Composites by 55.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock worth $49,000 after buying an additional 5,930 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its position in TPI Composites by 8.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company’s stock valued at $461,000 after buying an additional 8,550 shares during the last quarter. Monaco Asset Management SAM lifted its stake in TPI Composites by 20.0% in the 2nd quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 10,000 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of TPI Composites during the 2nd quarter worth approximately $44,000. 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.