JPMorgan Chase & Co. Grows Stock Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

JPMorgan Chase & Co. raised its position in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 433.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 145,666 shares of the industrial products company’s stock after buying an additional 118,365 shares during the period. JPMorgan Chase & Co.’s holdings in TPI Composites were worth $663,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in shares of TPI Composites by 281.4% during the third quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock valued at $275,000 after buying an additional 44,666 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of TPI Composites in the 3rd quarter valued at approximately $57,000. Erste Asset Management GmbH purchased a new position in shares of TPI Composites in the 3rd quarter valued at approximately $7,854,000. Brightline Capital Management LLC raised its position in shares of TPI Composites by 14.3% in the 3rd quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock valued at $7,544,000 after purchasing an additional 208,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TPI Composites in the 3rd quarter valued at approximately $88,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

TPI Composites Stock Performance

Shares of TPIC stock opened at $1.75 on Tuesday. The stock’s fifty day moving average is $1.72 and its two-hundred day moving average is $3.18. The firm has a market capitalization of $83.23 million, a P/E ratio of -0.47 and a beta of 1.82. TPI Composites, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $5.75.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.47). The firm had revenue of $380.76 million during the quarter, compared to analyst estimates of $346.50 million. During the same quarter in the previous year, the company posted ($1.71) EPS. On average, equities analysts forecast that TPI Composites, Inc. will post -3.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America cut their price target on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Morgan Stanley reissued 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. Finally, Jefferies Financial Group began coverage on shares of TPI Composites in a research note on Thursday, October 17th. They issued a “hold” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.58.

About TPI Composites

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.