TPI Composites (NASDAQ:TPIC) Receives “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of TPI Composites (NASDAQ:TPIC) in a research note published on Thursday morning, MarketBeat.com reports.

Other analysts also recently issued research reports about the stock. Morgan Stanley restated an “underweight” rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Jefferies Financial Group assumed coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price target on the stock. Finally, Bank of America reduced their price target on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.58.

TPI Composites Price Performance

Shares of NASDAQ TPIC opened at $1.23 on Thursday. The stock’s 50-day simple moving average is $2.87 and its 200-day simple moving average is $3.79. TPI Composites has a fifty-two week low of $1.21 and a fifty-two week high of $5.75.

Institutional Trading of TPI Composites

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in TPI Composites by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock worth $6,654,000 after purchasing an additional 72,056 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of TPI Composites during the third quarter worth about $7,854,000. Brightline Capital Management LLC boosted its stake in shares of TPI Composites by 14.3% during the third quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock worth $7,544,000 after buying an additional 208,000 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of TPI Composites during the second quarter worth about $1,421,000. Finally, King Luther Capital Management Corp acquired a new position in TPI Composites in the 2nd quarter valued at about $1,365,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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.