Brokerages Set TPI Composites, Inc. (NASDAQ:TPIC) Target Price at $4.58

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received an average recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $4.58.

TPIC has been the subject of several research reports. Evercore ISI raised TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Bank of America cut their target price 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. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. Jefferies Financial Group began coverage on shares of TPI Composites in a research report on Thursday, October 17th. They set a “hold” rating and a $5.00 price objective for the company. Finally, Piper Sandler upped their target price on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of TPI Composites by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock valued at $6,654,000 after buying an additional 72,056 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of TPI Composites by 12.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 3,737 shares in the last quarter. Tidal Investments LLC increased its position in shares of TPI Composites by 69.0% in the first 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. SG Americas Securities LLC acquired a new position in TPI Composites in the second quarter valued at about $44,000. Finally, Bank of New York Mellon Corp raised its stake in TPI Composites by 26.9% in the second quarter. Bank of New York Mellon Corp now owns 156,765 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 33,275 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

TPI Composites Stock Down 4.5 %

TPIC opened at $1.58 on Wednesday. TPI Composites has a 12-month low of $1.57 and a 12-month high of $5.75. The business has a 50 day moving average of $3.18 and a 200-day moving average of $3.90. The stock has a market cap of $75.14 million, a price-to-earnings ratio of -0.42 and a beta of 1.82.

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.