Brokerages Set TPI Composites, Inc. (NASDAQ:TPIC) PT at $3.83

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.19.

A number of analysts recently weighed in on TPIC shares. Roth Mkm dropped their target price on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research report on Friday, February 21st. UBS Group lowered their price objective on TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. StockNews.com upgraded TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Finally, Jefferies Financial Group cut TPI Composites from a “hold” rating to an “underperform” rating and reduced their target price for the company from $2.30 to $0.50 in a research note on Tuesday.

Insider Buying and Selling

In related news, major shareholder Construction Taahhut A.S. Dere bought 66,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $1.44 per share, with a total value of $95,040.00. Following the completion of the acquisition, the insider now owns 4,295,232 shares of the company’s stock, valued at $6,185,134.08. The trade was a 1.56 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 205,000 shares of company stock valued at $307,050 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On TPI Composites

Hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new position in shares of TPI Composites during the third quarter valued at $65,000. Dynamic Technology Lab Private Ltd purchased a new stake in TPI Composites in the third quarter worth about $155,000. Quantbot Technologies LP increased its position in TPI Composites by 24.9% in the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after buying an additional 5,653 shares in the last quarter. BNP Paribas Financial Markets increased its position in TPI Composites by 391.9% in the third quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock worth $294,000 after buying an additional 51,502 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in TPI Composites in the third quarter worth about $88,000. 75.24% of the stock is owned by institutional investors.

TPI Composites Price Performance

NASDAQ:TPIC opened at $0.89 on Friday. The business has a 50 day moving average of $1.33 and a 200 day moving average of $2.41. The company has a market capitalization of $42.21 million, a price-to-earnings ratio of -0.17 and a beta of 2.07. TPI Composites has a 1-year low of $0.88 and a 1-year high of $5.75.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The company had revenue of $346.51 million during the quarter, compared to the consensus estimate of $364.83 million. As a group, sell-side analysts anticipate that TPI Composites will post -0.9 EPS for the current year.

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.